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.
In a further sign of its dealmaking ambitions, the infrastructure specialist also teamed up with Cellnex Telecom SA to pursue a bid for Deutsche Telekom AG’s US$20 billion towers unit. “We’ve got Iberia covered out of Madrid. We’re now increasingly looking at Germany. No question France is coming shortly after that,” he said. “There is nothing that we see in our business today that suggests that our European expansion would slow down.”Brookfield has sought growth in turmoil before.
“Capital is available for quality businesses and sponsors,” said Rajan. “It’s like we say, when there’s vacancy in the office market, the Grade A buildings are always occupied.”A key area of focus for Brookfield is the world’s move toward cleaner forms of energy -- a shift that’s been given new impetus by Russia’s war in Ukraine and its impact on the price of fossil fuels.
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