Brookfield Asset Management Inc. plans to spin off its asset-management business, according to a person familiar with the matter — a step designed to simplify the organizational structure at one of the world’s largest alternative investment firms.
The new publicly traded entity will control Brookfield’s fee-generating assets, such as real estate, infrastructure, credit, private equity and renewable energy. The unit’s assets under management were $364 billion as of Dec. 31.
Brookfield, with $690 billion of assets under management, owns stakes in all its other publicly listed entities. Its balance sheet includes London’s Canary Wharf, One Manhattan West in New York, as well as numerous shopping malls, among other assets.
Read more: BNN Bloomberg
