The Financial Post reports in its Thursday edition that Brookfield Asset Management raised over $4-billion for an initial close of its fourth infrastructure debt fund (all figures U.S.). A Bloomberg dispatch to the Post says the raise for Brookfield Infrastructure Debt Fund IV is inclusive of fund commitments and strategic capital from the company's investor base. The fund launched in September last year. Brookfield was seeking to raise at least $7-billion for the vehicle to invest in junior and senior infrastructure debt. That target is larger than Brookfield's previous vehicles dedicated to the asset class. The fund will focus on high-yield debt investments for infrastructure assets and businesses backed by contracted or concession-based cash flows. Infrastructure debt is growing in popularity among direct lenders, as private credit firms seek to diversify away from corporate buyouts and into high-grade assets that insurance clients are interested in. Blackstone recently led a $7-billion investment in a liquefied natural gas export plant in Texas, while Goldman Sachs Group executives are betting that Europe's long-awaited revival in infrastructure spending will help power the firm's growth plans in the region.