A team of Goodwin attorneys helped client Brookfield Asset Management form its Brookfield Strategic Real Estate Partners fund, one of the world’s largest private real estate funds with approximately $4.4 billion in capital commitments.
The private fund is focused on making opportunistic investments in commercial property worldwide and was well in excess of the original $3.5 billion fundraising target at its final closing in mid-July.
The fund will invest primarily in the commercial property markets in North America, Europe, Brazil and Australia. Its strategy is to acquire properties directly and invest in real estate companies and distressed loans and securities. The fund will have a particular focus on acquiring positions of control or influence as part of multi-faceted distressed real estate turnarounds or recapitalizations.
Brookfield Asset Management, a longtime firm client, is a global alternative asset manager with more than $175 billion in assets under management. For more than 100 years, the company has owned and operated assets with a focus on property, renewable power, infrastructure and private equity. It is co-listed on the New York and Toronto stock exchanges under the symbols BAM and BAM.A, respectively, and on NYSE Euronext under the symbol BAMA.
The Goodwin team on this deal was led by John Ferguson and Mark Kirshenbaum and included Daniel Karelitz, tax and Scott Webster, ERISA.
Goodwin also recently advised Brookfield in its 50/50 joint venture with Concord Pacific, as well as on raising the fund for its transaction with MPG Office Trust, Inc.
Additional information on the most recent fund closing is available in Brookfield’s press release.