Brookfield Raises $12B for Flagship Global Equity Program
Brookfield Asset Management has raised $12 billion for its flagship global private equity program.
The investment was generated through Toronto-based Brookfield’s Capital Partners VI fund, ranks as the company’s largest capital raise and has wide-ranging real estate implications.
Toronto-based Brookfield contributed $3.5 billion of its own money to demonstrate alignment with other investors. Partners include a diverse group of institutional investors, sovereign wealth funds, financial institutions, endowments and foundations, Brookfield said Tuesday in a press release.
The company said it has committed $4 billion of the $12 billion to the acquisition of six market-leading businesses and continues to provide meaningful co-investment opportunities to its partners.
The capital raise comes after Brookfield began to eye large investments to capitalize on reduced property values.
“Our global deal pipeline remains robust during this current period of market dislocation, which is creating significant large-scale opportunities that suit our operationally intensive investment approach,” said Anuj Ranjan, president of the firm’s private equity group, in the news release.
Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate.
Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s.
In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star.
Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.