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Brookfield Buys Australia’s La Trobe Financial From Blackstone

  • The deal has a headline valuation of about $1.1 billion
  • Non-bank lender has A$13 billion in assets under management

Brookfield Asset Management Inc. will acquire one of Australia’s largest non-bank lenders, La Trobe Financial, from Blackstone Inc. for a valuation of about A$1.5 billion ($1.1 billion). 

The valuation includes a contingent payment tied to the business achieving certain performance milestones, according to a statement from Brookfield on March 19.