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Fidelity announces private real estate investment deal with Brookfield Asset Management

On July 12, 2023, Fidelity Investments Canada ULC announced that it has signed a deal that will offer investors exposure to private real estate investments through Brookfield Asset Management. Under the agreement, Brookfield Asset Management will invest in and manage a portfolio of Canadian real estate assets on behalf of Fidelity. The company says it plans to allocate the portfolio to a number of Fidelity private investment pools and is exploring other opportunities.

Fidelity says the agreement with Brookfield will allow it to continue to grow its alternative investment offerings and broaden its overall investment capabilities.

Brookfield Asset Management has more than $825 billion of assets under management including renewable power and transition infrastructure, private equity, real estate, and credit.

BLG is representing Fidelity with a team led by Carol Derk (Securities) and including Grace Pereira (Tax), Chelsea Papadatos (Securities), Xue Yan (Real Estate) and Natasha Miklaucic (tax).