Brookfield Trawls Middle East, Asia in Push for $1 Trillion
- Firm is raising infrastructure, private equity, property funds
- Earnings rise 15% in first full quarter since spinoff
Brookfield Place in Toronto
Photographer: Galit Rodan/BloombergThis article is for subscribers only.
Brookfield Asset Management has raised $19 billion for new funds this year and says it’s relying heavily on cash-rich investors in the Middle East and Asia to fuel its growth.
About 40% of the capital the firm has raised in the past year comes from those two regions and US clients are becoming a smaller part of the business, Chief Executive Officer Bruce Flatt and President Connor Teskey said in a letter to shareholders Wednesday.