With its wallet wide open, Brookfield Asset Management Inc. is entering the raging market tempest in Europe.
The $725 billion Canadian investment giant is planning to make purchases in industries like clean energy and technology, build new offices, and raise additional funds, while many of its rivals are holding back on investing in the region due to a growing list of risk factors.
Anuj Ranjan, who oversees business development at Brookfield and is in charge of its private equity division in Europe and Asia Pacific, stated in an interview conducted in London that the firm loves these kinds of markets, adding that it reduces market competition.
According to data compiled by Bloomberg, Brookfield has already spent more than $12 billion in Europe this year. This increase is being attributed to the company’s purchases of slate manufacturer Cupa Group, real estate companies Hibernia REIT Plc and Befimmo SA, as well as UK home repair company HomeServe Plc.
The infrastructure expert recently joined forces with Cellnex Telecom SA to explore a bid for Deutsche Telekom AG’s $20 billion towers operation, serving as another indication of its dealmaking ambitions.
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