Brookfield Asset Management Ltd. has announced the establishment of a commercial paper program, allowing the issuance of unsecured commercial paper notes up to a maximum aggregate amount outstanding at any time of $1 billion. This move is expected to further diversify and strengthen Brookfield's balance sheet by providing another source of short-term capital. The proceeds from the issuance of any notes will be used for general corporate purposes.
The company currently has over $1 trillion of assets under management across renewable power and transition, infrastructure, private equity, real estate, and credit. They invest client capital for the long-term with a focus on real assets and essential service businesses. Brookfield offers a range of alternative investment products to investors around the world, including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies, and private wealth investors.
This financial move comes as part of Brookfield's strategy to continue investing for value and generating strong returns for their clients, across economic cycles. Following these announcements, the company's shares moved 1.42%, and are now trading at a price of $52.78. For more information, read the company's full 8-K submission here.
