v3.26.1
Net Assets
 6 Months Ended
Jun. 30, 2026
Stockholders' Equity Note [Abstract]  
Net Assets Net Assets
Partners’ Capital
At the direction of the General Partner, the Fund has the authority to issue an unlimited number of Units of each Unit Class (as defined below).
As of June 30, 2026 and December 31, 2025, the Fund offered three classes of limited partnership units to third-party investors (“Investor Units”): Class D (“Class D” or the “Class D Units”), Class I (“Class I” or the “Class I Units”) and Class S (“Class S” or the “Class S Units”). In addition, the Fund has authorized the issuance of Class B-1 (“Class B-1” or the “Class B-1 Units”) and Class B-2 (“Class B-2” or the “Class B-2 Units”) and together with Class D, Class I, and Class S, each a “Class” or a "Unit Class". "Brookfield Units" include Class B-1 Units, Class B-2 Units and any other class or series of Units designated by the General Partner as Brookfield Units. The key differences among each Unit Class relate to the ongoing servicing fees and Performance Participation Allocation.
Unit issuances related to monthly subscriptions are effective the first calendar day of each month. There were no transactions in the Fund's Units from May 21, 2025 (Inception) to June 30, 2025. The following tables present transactions in the Fund’s Units for the three and six months ended June 30, 2026:
Class I UnitsClass S UnitsClass D UnitsClass B-1 UnitsClass B-2 UnitsTotal
Units Outstanding as of March 31, 20262,719,860 1,496,510 —25,966,907 18,469 30,201,746 
Units Issued402,817 351,993 —— 4,693 759,503 
Units Redeemed— — —(1,223,484)— (1,223,484)
Units Outstanding as of June 30, 20263,122,677 1,848,503 —24,743,423 23,162 29,737,765 
Class I UnitsClass S UnitsClass D UnitsClass B-1 UnitsClass B-2 UnitsTotal
Units Outstanding as of December 31, 2025291,600 398,100 —28,478,474 11,600 29,179,774 
Units Issued2,831,077 1,450,403 —— 11,562 4,293,042 
Units Redeemed— — —(3,735,051)— (3,735,051)
Units Outstanding as of June 30, 20263,122,677 1,848,503 —24,743,423 23,162 29,737,765 
The purchase price per Unit of each Class will be equal to the transactional net asset value (“Transactional NAV”) per Unit for such Class as of the last calendar day of the immediately preceding month, aside from the initial offering purchase price, equal to $25.00 per Unit for each Class. The Transactional NAV per Unit for each Class is determined by dividing the total assets of the Fund attributable to such Class, less the
value of any liabilities of such Class, accrued expenses and adjusted for any fees applicable to certain classes of Units, by the total number of outstanding Units of such Class. Investor Units and Class B-2 Units are eligible for redemption under the Fund’s Redemption Program, which generally allows up to 5% of all outstanding units to be redeemed each quarter, whereas Class B-1 Units are subject to a separate redemption arrangement that includes a discount per unit at the discretion of the General Partner. At the end of each month, the Fund allocates its Net Investment Income (Loss) and Net Change in Unrealized Gain (Loss) on Investments across each Unit Class based on their relative ownership share in the Fund as of the first calendar day of that month.

Under the Fund LPA, investors are not admitted as limited partners and Units are not deemed issued until the applicable subscription date, which is generally the first day of each month following acceptance of the completed subscription documents. Subscription proceeds received in advance do not result in the issuance of Units and no capital accounts are established until the subscription date. Accordingly, subscription proceeds received in advance are recognized as a payable in the financial statements until the Units are issued.

Redemption of Investor Units and Class B-2 Units
At the sole discretion of the General Partner and in accordance with the Partnership Agreement the Fund has implemented a redemption program (“Redemption Program”) to allow for redemptions of Investor Units and the Class B-2 Units, on a quarterly basis, up to 5% of the Fund's aggregate net asset value attributable to all Classes of Units outstanding. The General Partner may, in its discretion and in accordance with the Partnership Agreement, cause the Fund to exceed the 5% quarterly redemption limitation in any calendar quarter. The General Partner may amend or suspend the Redemption Program if in its reasonable judgment it deems such actions to be in the Fund’s best interest, including but not limited to tax, regulatory or other structuring reasons.
The Redemption Program for Investor Units commenced on January 1, 2026, i.e. during the first full quarter following the Initial Offering Date. Any redemption requests for Units that have not been outstanding for at least two (2) years will be subject to an early redemption fee equal to 5% of the Transactional NAV of the Units being redeemed (calculated as of the redemption date) for the benefit of the Fund and therefore indirectly its Unitholders. The two-year holding period is measured from the original subscription date to the first day of the month immediately following the redemption date.
There were no redemption requests for Investor Units and Class B-2 Units during the six months ended June 30, 2026.
Redemption of Class B-1 Units
As of June 30, 2026, the Fund had 24,743,423 Class B-1 Units outstanding and subject to redemption (December 31, 2025 - 28,478,474 Class B-1 Units). As of the last calendar day of each month, the Fund may redeem Class B-1 Units from the Brookfield Investors in an amount determined by the General Partner in its sole discretion.
During the three months ended June 30, 2026, 1,223,484 Class B-1 Units were redeemed at an aggregate value of $33.7 million. As the Class B-1 Units were redeemed at a blended discount to NAV in excess of 6%, a total redemption discount of $2.3 million was allocated and attributed to Unitholders. This amount consists of $0.8 million of Class B-1 Unit redemptions on March 31, 2026, allocated on April 1, 2026, and $1.5 million of Class B-1 Unit redemptions from April 2026 through May 2026. An additional $2.1 million of Class B-1 redemptions on June 30, 2026 will be allocated to Unitholders on July 1, 2026.
During the six months ended June 30, 2026, 3,735,051 Class B-1 Units were redeemed at an aggregate value of $99.1 million. As the Class B-1 Units were redeemed at a blended discount to NAV in excess of 6%, a total redemption discount of $8.7 million was allocated and attributed to Unitholders. This amount consists of $2.5 million of Class B-1 Unit redemptions on December 31, 2025, allocated on January 1, 2026, and $6.2 million of Class B-1 Unit redemptions from January 2026 through May 2026. An additional $2.1 million of Class B-1 Unit redemptions on June 30, 2026 will be allocated to Unitholders on July 1, 2026.
During the three and six months ended June 30, 2026, the Fund made redemption payments to Brookfield Investors totaling $58.2 million and $128.4 million, respectively. As of June 30, 2026, remaining Class B-1 Redemptions Payable to Affiliates were $17.0 million.
The redemption price per Class B-1 Unit for redemptions from Brookfield Investors for the first 18-month period after the Initial Offering Date of December 1, 2025, is the lesser of (1) the then-current Transactional NAV per Class B-1 Unit and (2) the amount determined by dividing (A) the then-current fair value of the remaining Seed Investments determined in accordance with the Fund’s valuation policy less an agreed upon blended discount determined as a product of individualized rates associated with each of the Seed Investments, by (B) the total number of outstanding Class B-1 Units, in each case as of the last calendar day of the applicable month. After the first 18-month period, Class B-1 Units will be redeemed at the Transactional NAV. Any benefit resulting from the redemption proceeds being less than the Transactional NAV of the Class B-1 Units at the time of redemption will be retained by the Fund and the holders of all classes of Units, and may be applied for any purpose permitted under the Fund’s governing agreements.