BROOKFIELD, NEWS,
2023 Summary and Update
As we approach the end of 2023, and with a lot going on, we decided to take the opportunity to reflect on key highlights from the year and provide a summary of some recent notable achievements.
We were very active during 2023 amidst a broader market slowdown. In total, we deployed
December highlights include:
-
Entropy, a
Brookfield Renewable Power & Transition portfolio company, received an investment ofC$200 million fromThe Canada Growth Fund , which provides an innovative carbon offtake agreement that underwrites the revenue for CCS projects pursued by Entropy. -
Everise, a Brookfield Private Equity portfolio company and leading global healthcare services outsourcing company, closed an investment from
Warburg Pincus that values the company at approximately$1 billion , a strong increase over the initial investment. -
150 Champs Élysées, a luxury retail property, was sold to LVMH for
$1 billion . -
In addition to securing over 12 million square feet of leasing across our office portfolio in
North America ,Europe , andIndia in 2023, Barclays further highlighted the strong demand for premium quality office by remaining in itsCanary Wharf headquarters and renewing its lease on roughly 1 million square feet of office space at1 Churchill Place to 2039. -
We continued to expand our global presence, opening an office in
Frankfurt andRiyadh this year.
With all of our flagship funds in the market in 2023, we are set to achieve our goal of almost
-
The BIF V strategy raised approximately
$30 billion—the largest private infrastructure fund ever raised, and the largest fund in Brookfield’s history. -
More than
$6 billion was raised for BID III, the largest private infrastructure debt fund globally. -
$12 billion was raised for the BCP VI strategy, making it Brookfield’s largest-ever private equity fund. -
Lunate Capital committed up to$3 billion for BGTF II and the newCatalytic Transition Fund , with an expected first close of BGTF II this week. -
In addition, we expect to shortly complete the first close of our fifth real estate opportunity fund, with total commitments to the program of approximately
$7 billion . -
We will increase our insurance assets to over
$100 billion , with the AEL acquisition expected to close soon, generating very attractive returns on equity capital and supporting the continued growth of private credit withinBrookfield Asset Management (BAM).
Against the market backdrop in 2023, we have continued to differentiate our business by maintaining our conservatively capitalized balance sheet, high levels of liquidity and by consistently accessing the capital markets to support the financing of ongoing operations and growth. We have maintained nearly $120 billion of deployable capital while investing
Our
With interest rates cresting and spreads tightening, all signs point to a constructive 2024. We see strong momentum and expect significant transaction activity over the course of 2024.
We all wish to take this opportunity to thank you for your interest in Brookfield, and we wish you and your families all the best for 2024. As ever, please do not hesitate to contact any of us should you have suggestions, questions, comments, or ideas you wish to share.
Sincerely,
Chief Executive Officer
About
For more information, please contact:
| Communications & Media | Investor Relations |
| Kerrie McHugh Hayes |
|
| Tel: (212) 618-3469 | Tel: (416) 359-8647 |
| Email: [email protected] | Email: [email protected] |
Forward-Looking Statements
This news release contains “forward-looking information” within the meaning of Canadian provincial securities laws and “forward-looking statements” within the meaning of the
Although Brookfield believes that such forward-looking statements are based upon reasonable estimates, beliefs and assumptions, certain factors, risks and uncertainties, which are described from time to time in our documents filed with the securities regulators in
Readers are urged to consider these risks, as well as other uncertainties, factors and assumptions, carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements, which are based only on information available to us as of the date of this news release. Except as required by law, Brookfield undertakes no obligation to publicly update or revise any forward-looking statements, whether written or oral, that may be as a result of new information, future events or otherwise.
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