Hassana, Brookfield ink MoU for new $500M private equity fund

31/10/2024 Argaam


Hassana Investment Co. and Brookfield Asset Management Ltd. signed today, Oct. 31, a memorandum of understanding, through which Hassana is exploring to become an anchor investor in Brookfield’s new regional private equity fund Brookfield Middle East Partners (BMEP).

 

The MoU was signed by Saad bin Abdulmohsen Al-Fadly, CEO of Hassana, and Bruce Flatt, CEO of Brookfield Asset Management.

 

Brookfield intends to raise at least $2 billion, with Hassana to allocate up to $500 million in the fund in addition to Brookfield’s own $500 million commitment, according to a statement.

 

BMEP will target buyouts, structured solutions and other investment opportunities across a range of sectors including industrials, consumer and business services, technology and healthcare.

 

Brookfield is one of the largest foreign direct investors in theCC. Active in the region since 1997, and directly investing since 2015, Brookfield has built a portfolio of over $12 billion of managed assets across private equity, real estate and infrastructure. With a substantial on the ground presence and an established team in offices in Dubai and Riyadh, Brookfield has taken a differentiated approach to building its business in the region, focusing on building long-term partnerships with leading local institutions.

 

Comments {{getCommentCount()}}

Be the first to comment

loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.