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Brookfield Selling Assets to Build War Chest for Next Downturn

  • ‘Bitcoin mania,’ pricey Italian art making CEO Flatt cautious
  • Brookfield has $25 billion in core liquidity and dry powder
Bruce Flatt
Bruce Flatt

Photographer: Kevin Van Paasen/Bloomberg

Brookfield Asset Management Inc., Canada’s largest alternative asset manager, said it’s selling off assets so that it will be ready to pounce in the next down market.

The Toronto-based firm sold about $12 billion in mature assets in 2017 and said it will continue to do so this year. Brookfield, which has $285 billion under management, said it has more than $25 billion in core liquidity and dry powder in its private funds.