Brookfield Asset Management Inc. is seeking to raise $12 billion to $15 billion for its third flagship private equity fund after making a string of acquisitions, according to people familiar with the matter. The Toronto-based firm is expected to start fundraising later this month and complete it by early 2022, the people said, asking not to be identified because the matter is private.
In a letter to shareholders in August, Brookfield Chief Executive Officer Bruce Flatt said he wanted to bring in $100 billion for deals and grow each of the firm’s flagship funds to more than $25 billion in capital over time. To achieve that, Brookfield is bolstering its investor ranks. Flatt said the firm now has 2,000 clients globally, up from 425 five years ago.
