Brookfield Decides to Spin Off Its Asset-Management Unit
- New publicly traded firm will manage fee-generating assets
- CEO Bruce Flatt said in February it was weighing such a move
This article is for subscribers only.
Brookfield Asset Management Inc. plans to spin off its asset-management business, according to a person familiar with the matter -- a step designed to simplify the organizational structure at one of the world’s largest alternative investment firms.
The new publicly traded entity will control Brookfield’s fee-generating assets, such as real estate, infrastructure, credit, private equity and renewable energy. The unit’s assets under management were $364 billion as of Dec. 31.