Brookfield Raises $12 Billion for Flagship Global Private Equity Program

Rhea-AI Summary

Brookfield Asset Management closes its largest private equity fund, BCP VI, raising $12 billion. Brookfield commits $3.5 billion to the Fund. CEO cites strong track record and investment strategy. Global deal pipeline remains robust.

Positive

• Brookfield Asset Management closes its largest private equity fund, BCP VI, raising $12 billion.
• Brookfield commits $3.5 billion to the Fund.
• CEO cites strong track record and investment strategy.
• Global deal pipeline remains robust.

Negative

• None.

BROOKFIELD, NEWS, Oct. 03, 2023 (GLOBE NEWSWIRE) -- Brookfield Asset Management announced today the closing of its latest flagship global private equity program, Brookfield Capital Partners VI (“BCP VI” or the “Fund”). With $12 billion in total capital raised for the strategy, BCP VI is the largest private equity fund raised by Brookfield.

Partners in BCP VI are a diverse group of institutional investors, including public and private pension plans, sovereign wealth funds, financial institutions, endowments and foundations, and family offices. Brookfield has committed $3.5 billion to the Fund, underscoring the firm’s alignment of interests with other investors.

Cyrus Madon, CEO of Brookfield’s Private Equity Group, said, “We are grateful for the confidence and support from our investors for BCP VI, Brookfield’s largest private equity fund raised to date. Reaching this milestone is a testament to our strong track record and longstanding strategy of investing in high-quality, cash-generative businesses that will benefit from Brookfield’s deep operating expertise.”

Anuj Ranjan, President of Brookfield’s Private Equity Group, said, “Our global deal pipeline remains robust during this current period of market dislocation, which is creating significant large-scale opportunities that suit our operationally intensive investment approach.”

To date, the Fund has committed approximately $4 billion to acquire six market-leading businesses and continues to provide meaningful co-investment opportunities to its partners.

About Brookfield Asset Management

Brookfield Asset Management Ltd. (NYSE: BAM, TSX: BAM) is a leading global alternative asset manager with US$850 billion of assets under management across renewable, infrastructure, real estate, private equity, credit and other. We invest client capital for the long-term with a focus on real assets and essential service businesses that form the backbone of the global economy. We offer a range of alternative investment products to investors around the world, which include public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies and private wealth investors. We draw on Brookfield’s heritage as an owner and operator to invest for value and generate strong returns for its clients, across economic cycles.

For more information, please visit our website at https://bam.brookfield.com or contact:

Media

Marie Fuller
Brookfield Asset Management
M: +44 207 407 8375
E: marie.fuller@brookfield.com

Notice to Readers

Brookfield Asset Management Ltd. is not making any offer or invitation of any kind by communication of this news release and under no circumstance is it to be construed as a prospectus or an advertisement.

In addition to historical fact, this news release may contain “forward-looking statements” within the meaning of applicable U.S. securities laws, including the United States Private Securities Litigation Reform Act of 1995, and “forward-looking information” within the meaning of Canadian securities laws (collectively, “forward-looking statements”). Forward-looking statements are typically identified by words such as “expect”, “anticipate”, “believe”, “foresee”, “could”, “estimate”, “goal”, “intend”, “plan”, “seek”, “strive”, “will”, “may” and “should” and similar expressions. Forward-looking statements reflect current estimates, beliefs and assumptions, which are based on Brookfield’s perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. Brookfield’s estimates, beliefs and assumptions are inherently subject to significant business, economic, competitive and other uncertainties and contingencies regarding future events and as such, are subject to change. Brookfield can give no assurance that such estimates, beliefs and assumptions will prove to be correct. In particular, statements about Brookfield’s business strategy are forward-looking statements.

Other factors, risks and uncertainties not presently known to Brookfield, or that Brookfield currently believes are not material, could also cause actual results or events to differ materially from those expressed or implied by forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements that are included in this press release, which are made as of the date of this press release, and not to use such information for anything other than their intended purpose. Brookfield disclaims any obligation or intention to update or revise any forward- looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.