Brookfield Asset Management (NYSE:BAM) saw strong fundraising momentum in the first quarter, raising $21 billion in capital, driven by complementary strategies and continued growth in insurance inflows.
Subsequent to quarter-end, the firm’s flagship private equity strategy held an initial close of $6 billion, with the first close finalizing in the coming months. Brookfield said both flagship funds — the PE flagship and the sixth vintage of its infrastructure flagship, which also launched in Q1 — are “well positioned to be meaningful contributors” to fundraising over the balance of the year.
Across its private equity business, Brookfield raised $1.4 billion during the quarter — including $1 billion for its private equity special situations strategy — and deployed roughly $400 million in investments.
Brookfield also agreed to acquire a leading administration and licensing services provider through its flagship private equity fund alongside partner manager Primary Wave.
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