Brookfield Asset Management Closes US$330 Million Brazil Agriland Fund
07 Januar 2011 - 9:19PM
Marketwired
Brookfield Asset Management ("Brookfield") (TSX: BAM.A)(NYSE:
BAM)(EURONEXT: BAMA) today announced the final closing of its
Brookfield Brazil Agriland Fund. The Fund is focused on investing
in high quality agricultural growth opportunities across a region
that is a recognized global leader in agribusiness. Investors in
the Fund include a diverse group of global public and private
pension plans, insurance companies and endowment funds and
Brookfield, and total committed capital is US$330 million.
"We are very excited about the growth prospects in Brazil.
Agriculture is one of many investment opportunities we see. It is a
compelling time to be investing in the rapid economic growth of the
country," says Luiz Lopes, Senior Managing Partner of Brookfield
and President of Brookfield's Brazilian operations.
With more than 110 years of experience in Brazil, Brookfield
will invest in properties primarily comprised of pasture land that
may be converted to higher-and-better uses, including soybean, corn
and sugarcane production, as well as readily converted properties
that may be acquired at attractive entry values. Agricultural land
is an attractive emerging asset class for institutional investors,
due to the increasing demand for soft commodities resulting from
growth in population and per capita income, improving diets and the
growing use for biofuels.
Brookfield has been an owner and operator of assets in Brazil
since 1899, and has a 28 year track record as a manager of
agricultural lands. The Fund's local investment and operating team
acquired approximately 240,000 acres of farmland in Brazil in the
last five years.
Since 2001, Brookfield has established a series of private funds
and investment programs with total capital commitments of more than
US$22 billion.
About Brookfield Asset Management
Brookfield Asset Management Inc., focused on property, power and
infrastructure assets, has over US$100 billion of assets under
management and is listed on the New York and Toronto Stock
Exchanges under the symbols BAM and BAM.A, respectively, and on
NYSE Euronext under the symbol BAMA. For more information, please
visit the Company's website at www.brookfield.com and the Fund's
website at www.brookfieldagriculture.com.
For more information, please visit our web site at
www.brookfield.com.
Note: This news release contains forward-looking information
within the meaning of Canadian provincial securities laws and
"forward-looking statements" within the meaning of Section 27A of
the U.S. Securities Act of 1933, as amended, Section 21E of the
U.S. Securities Exchange Act of 1934, as amended, "safe harbour"
provisions of the United States Private Securities Litigation
Reform Act of 1995 and in any applicable Canadian securities
regulations. Conditional verbs such as "will" and "may" are
predictions of or indicate future events, trends or prospects or
identify forward-looking statements. Forward-looking statements in
this news release include statements with respect to the type and
quality of the investments of the Fund. Although Brookfield Asset
Management believes that its anticipated future results,
performance or achievements expressed or implied by the
forward-looking statements and information are based upon
reasonable assumptions and expectations, the reader should not
place undue reliance on forward-looking statements and information
as such statements and information involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the company to differ materially
from anticipated future results, performance or achievement
expressed or implied by such forward-looking statements and
information.
Factors that could cause actual results to differ materially
from those contemplated or implied by forward-looking statements
include: economic and financial conditions in the countries in
which we do business; the behaviour of financial markets, including
fluctuations in interest and exchange rates; availability of equity
and debt financing; strategic actions including dispositions; the
ability to complete and effectively integrate acquisitions into
existing operations and the ability to attain expected benefits;
regulatory and political factors within the countries in which the
company operates; acts of God, such as earthquakes, drought and
hurricanes; the possible impact of international conflicts and
other developments including terrorist acts; and other risks and
factors detailed from time to time in the company's form 40-F filed
with the Securities and Exchange Commission as well as other
documents filed by the company with the securities regulators in
Canada and the United States, including the company's most recent
Management's Discussion and Analysis of Financial Results under the
heading "Business Environment and Risks."
We caution that the foregoing factors that may affect future
results is not exhaustive. When relying on our forward-looking
statements to make decisions with respect to Brookfield Asset
Management, investors and others should carefully consider the
foregoing factors and other uncertainties and potential events.
Except as required by law, the company undertakes no obligation to
publicly update or revise any forward-looking statements or
information, whether written or oral, as a result of new
information, future events or otherwise.
Contacts: Brookfield Asset Management Inc. Andrew Willis SVP,
Communications & Media (416) 369-8236 (416) 363-2856 (FAX)
andrew.willis@brookfield.com Brookfield Asset Management Inc.
Katherine Vyse SVP Investor Relations & Communications (416)
369-8246 (416) 363-2856 (FAX) kvyse@brookfield.com
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