Investment in Brookfield
The Military Mutual Aid Association (MMAA) of South Korea announced on July 19 that it would invest US$40 million in Brookfield Asset Management’s infrastructure fund with a total value of US$700 million in the interest of asset stability and investment profitability.
Brookfield Asset Management, a Canadian global alternative asset manager, was recently selected as the preferred bidder for the sale of the International Finance Center (IFC) located in Yeouido, Seoul. This company is currently raising the fund with institutional investors around the world in order to provide capital for infrastructure construction in the Americas and Australia and receive interest.
The MMAA is increasing its overseas alternative investment ratio these days with its real estate investment in South Korea leading to a decline in earnings. Its participation in the fund marks the first partnership between the MMAA and Brookfield Asset Management. According to industry sources, the MMAA is expected to have a rate of return of 6% to 7% a year in this investment.
Brookfield Asset Management has a history of more than 100 years in infrastructure investment and management and its asset under management totals 260 trillion won or so now.