The Toronto-based asset manager sold about US$15-billion of its holdings in the first half of the year, including a luxury hotel in South Korea
executives are expecting to off-load more assets as economic conditions for deal-making continue to improve, after the Toronto-based asset manager sold about US$15-billion of its holdings in the first half of the year.
As deal-making picks up speed, Brookfield expects the pace at which it sells assets will also rise. In the second quarter, which ended June 30, Brookfield sold a luxury hotel in South Korea, an office building in Washington, D.C., and several renewable assets, according to president and chief financial officer Nick Goodman. That could add to earnings in the coming quarters and free up capital for new acquisitions.
“I intend to help the team out in any way I can and stay fully invested in Brookfield,” Mr. Flatt said. Brookfield separately released second-quarter results for its insurance business on Thursday, which is changing its name from Brookfield Reinsurance Ltd. to Brookfield Wealth Solutions in September. The unit reported distributable operating earnings of US$298-million in the second quarter, compared with US$160-million in the same quarter a year earlier.
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