Brookfield Oaktree Wealth Solutions, Brookfield Asset Management’s private wealth arm, has plans to reach $100 billion in assets in the next five years, reported Bloomberg.
Brookfield Oaktree Wealth Solutions anticipates that for now, the majority of its business will come from wealthy individuals in the United States.
“We recognize this is a higher-touch businesses than the institutional side,” said chief executive John Sweeney. “A lot of our target investors are seeing that alternatives are more insulated from volatility and see that they can provide good, high-returning diversification.”
Brookfield Oaktree Wealth Solutions was formed after Brookfield Asset Management agreed to buy a majority stake in Oaktree Capital in 2019.
