Brookfield Closes US$9 Billion Global Private Equity Fund
04 November 2019 - 2:00PM
Brookfield Asset Management Inc. (“Brookfield”)
(NYSE: BAM, TSX: BAM.A) announced today the closing of its latest
flagship global private equity fund, Brookfield Capital Partners V
(“BCP V” or the “Fund”) with total equity commitments of $9
billion in the program.
Based on strong investor demand, BCP V attracted
total capital commitments exceeding the original $7 billion
fundraising target. BCP V’s predecessor fund closed in 2016 with $4
billion of total capital commitments. Investors in the Fund are a
diverse group of institutional investors, including public and
private pension plans, sovereign wealth funds, financial
institutions, endowments and foundations, family offices, and
private wealth investors. Brookfield Business Partners L.P. (NYSE:
BBU, TSX: BBU.UN) has committed $3 billion to the Fund,
underscoring the alignment of interests with other investors. Cyrus
Madon, head of Brookfield’s private equity business, said “We are
pleased to have reached this milestone based on the ongoing strong
support we have received from our investors. We have already
deployed capital into a number of high-quality businesses and look
forward to continuing to prudently invest where we can bring our
operating capabilities, global scale, and expertise as part of the
broader Brookfield platform to create value for our investors and
our businesses.”
To date, the Fund has committed approximately
$2.5 billion to acquire businesses with high barriers to entry, low
production costs, and the potential for enhanced cash flow
generation, including a leading global automotive battery business
and one of the largest private hospital operators in Australia.
Brookfield Asset Management
Brookfield Asset Management is a leading global alternative asset
manager with over US$500 billion of assets under
management across real estate, infrastructure, renewable power,
private equity and credit. Brookfield owns and operates
long-life assets and businesses, many of which form the backbone of
the global economy. Utilizing its global reach, access to
large-scale capital and operational
expertise, Brookfield offers a range of alternative
investment products to investors around the world—including public
and private pension plans, endowments and foundations, sovereign
wealth funds, financial institutions, insurance companies and
private wealth investors.
Brookfield Asset Management is listed on
the New York and Toronto stock exchanges under
the symbols BAM and BAM.A, respectively. For more information,
please visit www.brookfield.com.
For more information, please contact:
Media Claire Holland Vice President,
Communications & Branding Tel: +1 416 369 8236 Email:
claire.holland@brookfield.com |
Investor Relations Linda Northwood Director,
Investor Relations Tel: +1 416 359 8647 Email:
linda.northwood@brookfield.com |
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