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Tag: Brookfield Asset Management Ltd. Cl A

  • Why wealthy investors put $125 billion into this new type of private-equity fund last year

    Why wealthy investors put $125 billion into this new type of private-equity fund last year

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    Private-equity funds aimed at wealthy individuals continue to draw in fresh capital as the universe of alternative investments grows beyond its roots serving endowments, pension funds and other institutions, according to industry data.

    Registered funds that take investments from individuals and smaller institutions rose by about $125 billion in 2022 from the previous year to total assets under management (AUM) of $425 billion, according to data from private-equity investor and data provider Hamilton Lane Inc. HLNE.

    The…

    Master your money.

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  • Brookfield Reinsurance to acquire remaining shares of AEL in $4.3 billion cash-and-stock deal

    Brookfield Reinsurance to acquire remaining shares of AEL in $4.3 billion cash-and-stock deal

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    Brookfield Reinsurance Ltd.
    BNRE,
    -0.63%
    has agreed to acquire the shares of American Equity Investment Life Holding Co.
    AEL,
    -0.69%    ,
    or AEL, it does not already own in a cash-and-stock deal valued at $4.3 billion. Under the terms of the deal, AEL shareholders will receive $55 per AEL share, consisting of $38.83 in cash and 0.49797 of a Brookfield Asset Management Ltd.
    BAM,
    +0.25%
    class A limited voting share with a value of $16.15, subject to adjustment. The price is equal to a 35% premium over AEL’s undisturbed closing share price on June 23, and a 42% premium to AEL’s 90-day volume-weighted average price as of that date. “This transaction represents an important step in the continued growth of our insurance business, further diversifying, and scaling, our insurance capabilities, and is a direct result of the partnership we have developed with AEL since our initial investment in 2020,” said Brookfield Reinsurance CEO Sachin Shah in a statement. The deal is expected to close in the first half and will not be dilutive to BAM, BN or Brookfield Reinsurance. Once ti closes, AEL shares will be delisted from the NYSE. AEL’s stock rose 2.4% premarket.

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