Brookfield pours record US$12B into European deals
BNN Bloomberg
Brookfield Asset Management Inc. is heading into Europe’s swelling market storm with its checkbook open.
As many of its rivals refrain from committing capital to the region amid an ever-growing list of risk factors, the US$725 billion Canadian investment giant is making plans to buy in sectors ranging from clean energy to technology, open new offices and raise fresh money.
“Frankly, we love these kinds of markets,” Anuj Ranjan, who runs business development at Brookfield and leads its private equity arm in Europe and Asia Pacific, said in an interview in London. “The reason we are excited is that this makes the market less competitive.”
At more than US$12 billion this year, Brookfield’s spending in Europe has already hit an annual record, data compiled by Bloomberg show, fueled by acquisitions of UK household repairs provider HomeServe Plc and property firms Hibernia REIT Plc and Befimmo SA.
