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.

In its second-quarter report, BAM said it is on track to raise a record US$15 billion in capital this year. The company also voiced has plans to make large global investments as property values plummet due to economic pressures.

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