The Globe and Mail reports in its Thursday edition that Brookfield Asset Management is looking to buck the trend in a tough market for fundraising with plans to raise significant capital to invest in its areas of focus, including infrastructure, renewable energy and private credit. The Globe's James Bradshaw writes that the asset manager reported earnings for the first time as a stand-alone entity Wednesday after it was spun off from parent Brookfield Corp. in December. The company raised $93-billion in capital in 2022, including $14-billion in the fourth quarter, which was its best fundraising year on record (all figures U.S.). Even as available capital becomes more scarce while investors grapple with the uncertainty caused by high inflation and spiking interest rates, Brookfield is betting that it can continue to attract flows of institutional money that are increasingly going to only the largest asset managers with the broadest reach. It is also betting that its strength in asset classes that are most in demand because they generate stable income in volatile times will give it an edge. Fundraising helped Brookfield Asset Management boost its fee-bearing capital to $418-billion, up 15 per cent over the past year.
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