Brookfield, SocGen to Launch $14.6B Private Debt Fund
Canada’s Brookfield Asset Management and French bank Société Générale will launch a new $14.6-billion private debt fund.
The move likely has long-term global commercial real estate investment implications. Traditionally, BAM has focused its credit business on providing senior credit and debt in commercial real estate and infrastructure, according to The Globe and Mail.
Toronto-based BAM and Paris-based SocGen announced Wednesday that they will provide 2.5 billion euros of seed funding at inception as part of a total 10-billion euro investment-grade fund.
The seed fund will focus on the power, renewable energy, data, midstream and transportation sectors and provide find financing.
BAM said it will bring its own and institutional capital.
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.