Fundraising - MAY 16, 2022

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Brookfield lists stake in asset-management business, raises $12b for fourth real estate fund

by Kali Persall

Brookfield Asset Management has plans to separately list and distribute to shareholders a 25-percent interest in the firm’s asset-management business, the firm announced in a first quarter report May 12.

The asset-management business is one of the major alternative-investment firms in the world, managing the capital of more than 2,000 global institutional investors and a growing list of high-net-worth investors.

The spin-off will be done on a tax-free basis to both Canadian and U.S. shareholders, and potentially others, and is expected to be completed by the end of 2022.

Brookfield said funds from operations (FFO) and net income totaled $1.6 billion and $3 billion for the first quarter of the year, with total operating FFO increasing by 43 percent to $1.1 billion compared to first quarter 2021. This was driven by the growth in the firm’s asset-management earnings, contributions from new acquisitions and the benefit of an increased ownership in a real estate

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