Brookfield Asset Management plans to launch a private equity product tailored to rich individuals as the firm expands further into retail wealth.
“We did it in credit, we did it in real estate, we did it in infrastructure, and now we’re doing it in private equity,” David Levi, chief executive officer of Brookfield’s global client group, said Tuesday at the firm’s investor day in New York.
Brookfield, which didn’t disclose exactly when the new product will be available, launched an infrastructure fund tailored to wealthy individuals last year. The fund has about $2.4 billion of net assets across 23 private holdings, according to its website.
The Toronto-based asset manager oversees almost $1 trillion and has said it plans to double that in the next five years.
Mark Carney, the chair of Brookfield Asset Management, is also the chair of Bloomberg Inc.
Written by: Layan Odeh @Bloomberg
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