article business spectator, about brookfield

No mention of centro..however hint at "troubled property groups."


The Future Fund has joined the growing list of sovereign wealth funds taking the plunge into the property sector, committing $US1 billion ($A1.1 billion) into Canadian institutional investor Brookfield Asset Management’s $US5 billion real estate vulture fund, reports The Australian newspaper.

The sovereign wealth fund joins China Investment Corporation and Government of Singapore Investment Corporation in tipping money into Brookfield Asset Management and Brookfield Properties' new Investor Consortium, which is designed to focus on distressed real estate debt and troubled property groups.

Brookfield Properties chief executive Ric Clark told the paper in September that six institutional investors would contribute between $US300 million and $US1 billion each.

"We have teamed up with a small handful of the world's most sophisticated and deep-pocketed investors to look for restructuring and deleveraging opportunities," Mr Clark said at the time.

The consortium is yet to make an acquisition