Brookfield Asset Management said it expects to raise $150 billion this year, bucking the slowdown in the alternative-asset sector.
The Canadian firm posted distributable earnings of $527 million in the second quarter, or 32 cents per share, up 3% from last year, according to a statement Wednesday. It made 28 cents a share on a net-income basis.
Brookfield’s energy transition fund also backstopped a $12 billion deal for Australian utility Origin Energy Ltd. The new business, called Pinegrove Capital, will raise an inaugural fund in the first half of next year, they said. Brookfield and Sequoia will collectively invest $500 million.
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