Brookfield Announces Initial Close of First Eur...

BROOKFIELD NEWS, July 16, 2020 (GLOBE NEWSWIRE) -- Brookfield Asset Management Inc. (“Brookfield”) (NYSE: BAM, TSX: BAM.A) today announced the initial closing of its first European core-plus real estate fund, Brookfield European Real Estate Partnership (“BEREP” or the “Fund”), with total equity commitment to date of €725 million.

The core-plus fund dedicated to European real estate investments continues Brookfield’s focus on establishing core-plus real estate funds in large, developed regions, which also includes funds focused on North America and Australia. BEREP committed equity in mid-April to its first investment, 42 rue de Paradis, a high-quality office building in Paris.

“Evolving market dynamics are creating new opportunities and a substantial pipeline in core-plus real estate throughout Europe,” said Zachary Vaughan, Head of Europe Real Estate at Brookfield. “This fund, combined with our on-the-ground presence and operations across Europe, should continue to serve us well over the long term.”

Brookfield’s cornerstone investors include a mix of public and private pensions, insurance companies as well as a commitment from Brookfield Asset Management through Brookfield Property Partners (NASDAQ: BPY, TSX: BPY.UN).

Brookfield has a significant real estate presence in Europe, with $31 billion of assets under management. Its existing core-plus investments include iconic mixed-use properties such as Canary Wharf in London and Potsdamer Platz in Berlin.

Brookfield Asset Management
Brookfield Asset Management is a leading global alternative asset manager with over US$515 billion of assets under management across real estate, infrastructure, renewable power, private equity and credit. Brookfield owns and operates long-life assets and businesses, many of which form the backbone of the global economy. Utilizing its global reach, access to large-scale capital and operational expertise, Brookfield offers a range of alternative investment products to investors around the world—including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies and private wealth investors.

Brookfield Asset Management is listed on the New York and Toronto stock exchanges under the symbols BAM and BAM.A, respectively. For more information, please visit www.brookfield.com.

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