Brookfield Asset Management created a new global real estate investment fund, its second, this time worth $9 billion.

The firm closed on its Brookfield Strategic Real Estate Partners II vehicle, which will invest in properties in Europe, Australia, Brazil and across North America, Bloomberg reported.

The fund raised money from over 100 investors, featuring a large number of Asian funds and insurance companies, as well as sovereign wealth funds, pension funds and large financial institutions. Brookfield itself kicked in $2.3 billion.

The vehicle exceeded the company’s original target of $7 billion, and is over twice as large as the BAM’s first real estate fund, which closed in 2013 at $4.4 billion in total commitments.

About 45 percent of the cash is already committed, Brian Kingston, the CEO of BAM’s parent firm, Brookfield Property Group, said in a news release.

Back in February, BAM struck a deal with Rouse Properties to take over its massive mall portfolio, valued in the deal at about $2.8 billion. Toronto-based Brookfield Property Group is developing the Brookfield Place complex in lower Manhattan. [Bloomberg] – Ariel Stulberg

Source: Brookfield Asset Management raised B real estate fund