JPMorgan, Brookfield Said to Raise Funds for Brazil Real Estate
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JPMorgan Chase & Co. and Brookfield Asset Management Inc. are raising investment funds totaling at least $1.2 billion to wager on commercial real estate in Brazil, according to people with direct knowledge of the matter.
Brookfield, Canada’s largest alternative asset manager, and Gavea Investimentos Ltda, JPMorgan’s subsidiary for that business in Brazil, are in talks with international investors, one of the people said. The people, who asked not to be identified because the discussions are private, said Gavea’s fund will be at least $200 million and Brookfield’s about $1 billion.