Brookfield Private Equity Arm Falls in Regular Trading Debut
- Management targeted $25-a-piece price for the new units
- Official spin out price derived from five-day weighted average
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The private equity arm of Brookfield Asset Management Inc. fell as much as 27 percent in its first regular trading session, after being officially being spun out as a special dividend to the parent company’s shareholders Monday.
Units of Brookfield Business Partners closed at $21.47 apiece in New York, below management’s $25-a-unit target. It also trades in Toronto.