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Q3 Results: Canada's Largest Asset Manager Grows to $225B in Assets
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Despite falling short of analyst expectations, Canada’s largest alternative asset manager, Brookfield Asset Management, posted $845M in Q3 net income, growing to $225B in total assets under management. Revenue during the quarter grew 8.5% to $5.1B.
The asset manager is capitalizing on high valuation in US real estate to power other deals, CEO Bruce Flatt said, with a focus on emerging markets.
Brookfield is in the process of acquiring a stake in Brazilian airport and toll-road operation Invepar, a source told Bloomberg, and recently bought a portfolio of six toll roads in India.
Brookfield is actively marketing five funds with a target of raising $23B over the next 12 to 24 months, the company said. [Bloomberg]
