Brookfield Real Assets Income Fund Inc. Announces Adjournment and Rescheduling of December 10, 2020 Special Meeting of Stockholders

Rhea-AI Summary

The stockholders of Brookfield Real Assets Income Fund Inc. (NYSE: RA) approved the appointment of Deloitte & Touche LLP as the independent accounting firm for the fiscal year ending December 31, 2020, at a Special Meeting held on December 10, 2020. However, the meeting was adjourned concerning a new sub-advisory agreement, needing an additional 3.2% of votes for approval. The rescheduled virtual meeting will be held on December 18, 2020, due to COVID-19 precautions. Stockholders are encouraged to vote via proxy to participate.

Positive

• None.

Negative

• The adjournment of the Special Meeting indicates difficulty in achieving the necessary voting threshold for the new sub-advisory agreement.
• The Fund requires an additional 3.2% of outstanding shares to approve the proposal, highlighting potential shareholder disengagement.

NEW YORK, Dec. 10, 2020 (GLOBE NEWSWIRE) -- Brookfield Public Securities Group LLC (“Brookfield”) announced that, at the Special Meeting of Stockholders (the “Special Meeting”) held earlier today, stockholders of Brookfield Real Assets Income Fund Inc. (NYSE: RA) (the “Fund”) approved the proposal to ratify the selection of Deloitte & Touche LLP as the Fund’s independent registered public accounting firm for the fiscal year ending December 31, 2020. In addition, Brookfield announced that the Special Meeting was adjourned with respect to the proposal to approve a new sub-advisory agreement (the "New Sub-Advisory Agreement") among Brookfield, Oaktree Capital Management, L.P. and the Fund until 8:30 a.m., Eastern Time, on Friday, December 18, 2020. The Special Meeting has been adjourned to allow for further solicitation of stockholders to meet the requirement that the New Sub-Advisory Agreement is approved by the affirmative vote of a “majority of the outstanding voting securities” of the Fund.¹   As of the Special Meeting date, the Fund needs approximately an additional 3.2% of its outstanding shares to vote in favor of the proposal in order to approve the New Sub-Advisory Agreement.   Additionally, in light of public health concerns regarding the COVID-19 pandemic, the rescheduled Special Meeting will be held in a virtual meeting format only.

As noted in the proxy materials previously distributed for the Special Meeting, the Board of Directors of the Fund had fixed the close of business on November 2, 2020 as the record date for the determination of stockholders of the Fund entitled to notice of, and to vote at, the Special Meeting or any postponement or adjournment thereof.   To attend the rescheduled Special Meeting virtually, stockholders must email the Fund’s proxy solicitor, American Stock Transfer & Trust Company, LLC (“AST”), at proxy@astfinancial.com and provide their full name, address and control number located on the proxy card previously received.   AST will then email the stockholder meeting credentials and instructions for voting during the Special Meeting.

If you held Fund shares through an intermediary (such as a broker-dealer) as of November 2, 2020, in order to participate in and vote at the Special Meeting, you must first obtain a legal proxy from your intermediary reflecting the Fund’s name, the number of Fund shares you held, and your name and email address.   You may forward an email from your intermediary containing the legal proxy or an image of the legal proxy to AST at proxy@astfinancial.com and write “Legal Proxy” in the subject line.   Requests for registration must be received by AST no later than 5:00 p.m. Eastern Time on December 17, 2020.   You will then receive confirmation of your registration and a control number by email from AST.   AST will also email your stockholder meeting credentials and instructions for voting during the Special Meeting.

Stockholders are not required to attend the Special Meeting to vote their shares.   Whether or not stockholders plan to attend the Special Meeting, the Fund urges stockholders to authorize a proxy to vote the stockholder’s shares in advance of the Special Meeting by one of the methods described in the proxy materials for the Special Meeting.   In connection with the Special Meeting, the Fund has filed a definitive proxy statement with the Securities and Exchange Commission (“SEC”). Stockholders are advised to read the Fund’s proxy statement because it contains important information. This communication is not a solicitation of a proxy from any Fund stockholder. The Fund and its directors and officers, and Brookfield, and its shareholders, officers and employees and other persons may be deemed under the rules of the SEC to be participants in the solicitation of proxies from stockholders in connection with the proposals to be voted on at the Special Meeting.   Information about Brookfield, and directors and officers of the Fund may be found in the Fund’s annual and semi-annual reports, and its annual shareholder meeting proxy statements previously filed with the SEC.

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¹ Under the Investment Company Act of 1940, as amended, the vote of a "majority of the outstanding voting securities" of the Fund means the vote of the lesser of: (a) 67% or more of the voting securities present at the Special Meeting, if the holders of more than 50% of the outstanding voting securities of the Fund are present or represented by proxy; or (b) more than 50% of the outstanding voting securities of the Fund.

About Brookfield Public Securities Group LLC
Brookfield Public Securities Group LLC (“PSG”) is an SEC-registered investment adviser that represents the Public Securities platform of Brookfield Asset Management Inc., providing global listed real assets strategies including real estate equities, infrastructure equities, energy infrastructure equities, multi-strategy real asset solutions and real asset debt.   With over $15 billion of assets under management as of September 30, 2020, PSG manages separate accounts, registered funds and opportunistic strategies for financial institutions, public and private pension plans, insurance companies, endowments and foundations, sovereign wealth funds and individual investors.   PSG is a wholly owned subsidiary of Brookfield Asset Management Inc., a leading global alternative asset manager with approximately $575 billion of assets under management as of September 30, 2020.   For more information, go to https://publicsecurities.brookfield.com/.

Brookfield Real Assets Income Fund Inc. is managed by Brookfield Public Securities Group LLC.   The Fund uses its website as a channel of distribution of material information about the Fund.   Financial and other material information regarding the Fund is routinely posted on and accessible at https://publicsecurities.brookfield.com/.

Forward-Looking Statements
Certain statements made in this news release that are not historical facts are referred to as "forward-looking statements" under the U.S. federal securities laws. Actual future results or occurrences may differ significantly from those anticipated in any forward-looking statements due to numerous factors.   Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will" and similar expressions identify forward-looking statements, which generally are not historical in nature.   Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ from the historical experience of PSG, and the Fund managed by PSG, and its present expectations or projections.   You should not place undue reliance on forward-looking statements, which speak only as of the date they are made.   PSG and the Fund managed by PSG undertake no responsibility to update publicly or revise any forward-looking statements.

COMPANY CONTACT
Brookfield Real Assets Income Fund Inc.

Brookfield Place
250 Vesey Street, 15th Floor
New York, NY 10281-1023
(855) 777-8001
publicsecurities.enquiries@brookfield.com

Investing involves risk; principal loss is possible.   Past performance is not a guarantee of future results.

Quasar Distributors, LLC, provides filing administration for Brookfield Real Assets Income Fund Inc.

FAQ

What was approved by Brookfield Real Assets Income Fund stockholders on December 10, 2020?

The stockholders approved the selection of Deloitte & Touche LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2020.

When will the rescheduled Special Meeting for Brookfield Real Assets Income Fund take place?

The rescheduled Special Meeting will be held on December 18, 2020.

What percentage of votes does Brookfield Real Assets Income Fund need to approve the new sub-advisory agreement?

The Fund needs an additional 3.2% of its outstanding shares to vote in favor of the new sub-advisory agreement.

Why was the Special Meeting for Brookfield Real Assets Income Fund adjourned?

The Special Meeting was adjourned to allow for further solicitation of stockholders to meet the voting requirements for the new sub-advisory agreement.