Global asset manager seeks growth opportunities
Toronto-based asset manager Brookfield has announced two new partnerships, in Europe and Asia.
The firm’s strategic partnership with London-based LCM Partners, an alternative credit investment broker, will see Brookfield take a 25% stake in Link Financial Group, a group which comprises LCM and its sister companies across Europe.
Brookfield will have the option to increase its stake to 49.9% over time.
With a 20-year history, Link now employs around 700 people and has acquired over 2,500 portfolios of performing, rescheduled and non-performing loan portfolios since inception from major banking groups and financial institutions.
“We are pleased to partner with LCM, a market leader with an established track record of strong investment performance and long-term client relationships,” said Ralf Rank, Managing Partner, Brookfield.
Link will continue to operate as a separate business under its existing leadership but will leverage Brookfield’s global business and contacts to expand its asset management and credit servicing business globally.
“We look forward to working closely with LCM’s management team to support the growth of its platform via expansion into new markets, diversification of its product offering, and through pursuing investment opportunities leveraging the capabilities of both firms,” added Rank.
China joint venture targets solar energy
Brookfield has also announced a 50:50 joint venture with Chinese tech and logistics firm GLP dedicated to building a leading platform for distributed solar energy on logistics and commercial rooftops in China.
The JV will combine GLP’s growing logistics facilities in China with Brookfield’s experience in the renewable power assets space.
“This partnership represents an attractive opportunity to expand our footprint in China’s rapidly growing renewables market, with a strong local partner in GLP,” said Bruce Flatt, CEO of Brookfield Asset Management.
