Brookfield Investment Management Raises $155 Million in IPO for Brookfield Global Listed Infrastructure Income Fund Inc. (INF)
(firmenpresse) - NEW YORK, NEW YORK -- (Marketwire) -- 08/26/11 -- Brookfield Investment Management Inc., today announced the completion of a $155 million common stock offering for the Brookfield Global Listed Infrastructure Income Fund Inc., a newly-organized, non-diversified closed-end management investment company (the "Fund"). Assuming full exercise of the underwriters' overallotment option, which may or may not occur, the Fund will have raised approximately $177 million. The Fund's shares will commence trading on the NYSE today under the symbol "INF."
The Fund will invest primarily in a portfolio of publicly traded equity securities of infrastructure companies. The investment objective of the Fund is to seek to provide a high level of total return, with an emphasis on income.
"Given the recent volatility in the capital markets, we believe this fund is well-timed to offer investors the opportunity to participate in a growing global asset class that we believe has the potential for payment of attractive dividends," said Mr. Kim G. Redding, Chief Executive Officer and Chief Investment Officer of Brookfield Investment Management Inc.
"The Brookfield Global Listed Infrastructure Income Fund Inc. is differentiated through a pure-play approach to infrastructure investment, focusing on the owners and operators of existing infrastructure assets," said Mr. Redding. The Fund's investment universe includes companies that own or lease airports, oil and gas pipelines, electricity transmission lines, seaports, toll roads, communication towers, and water pipelines and treatment plants.
"Importantly, the Fund seeks to limit exposure to companies that provide only infrastructure services, such as construction companies or machinery manufacturers. Rather, the Fund focuses upon publicly traded infrastructure companies that invest in resilient, long-lived assets that we believe are essential to the global economy," said Mr. Redding. "In our experience these types of infrastructure companies are typically supported by stable cash flows and often have revenues that are linked to inflation," he noted.
The lead portfolio manager of the Fund is Mr. Craig Noble, CFA, who brings 13 years experience to his role. He is supported by a team of seven analysts, located in Chicago, London and Sydney.
Mr. Noble said, "We believe this global asset class has the potential for significant growth over the coming years, driven by a combination of factors, including global population growth, the need to replace aging infrastructure in developed nations and the need for new infrastructure in emerging markets. Additionally, a shortage of capital to fund infrastructure development currently exists due to strained government budgets. As a result, infrastructure companies are likely to play an increasingly important role in global infrastructure development."
The initial public offering was led by BofA Merrill Lynch, Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, UBS Investment Bank and Wells Fargo Securities, LLC.
Brookfield Investment Management Inc., a global investment manager focused on specialized equity and fixed income securities investments, serves as the investment adviser to the Fund. Brookfield Investment Management Inc. is an SEC-registered investment advisor and with its affiliates had approximately $24 billion in assets under management as of June 30, 2011. It is headquartered in New York and maintains offices and investment teams in Chicago, Boston, London, Hong Kong, Sydney, and Toronto. Brookfield Investment Management Inc. is a subsidiary of Brookfield Asset Management Inc., a global alternative asset manager with approximately $150 billion in assets under management as of June 30, 2011 and a 100-year history of owning and operating assets with a focus on real estate, infrastructure, power and private equity.
AMP Capital Brookfield (US) LLC, an affiliate of Brookfield Investment Management Inc., serves as the investment sub-adviser to the Fund.
The Fund uses its web site as a channel of distribution of material company information. Financial and other material information regarding the Fund is routinely posted on and accessible at .
Important Disclosures
As the Fund is newly organized, its shares have no history of public trading. Shares of closed-end investment companies frequently trade at a discount to their net asset value, which may increase investors' risk of loss. This risk may be greater for investors expecting to sell their shares in a relatively short period after the completion of this public offering. There are risks associated with an investment in the Fund. Investors should consider the Fund's investment objectives, risks, charges and expenses carefully before investing. The prospectus, which contains this and other information about the Fund, should be read carefully before investing. A copy of the prospectus can be obtained from Brookfield Investment Management Inc. by calling 1-800-282-0492. An investment in the Fund should not constitute a complete investment program.
There is no assurance that the Fund will achieve its investment objective.
This document is not an offer to sell securities or the solicitation of an offer to buy securities, nor shall there be any sale or offer of these securities in any jurisdiction where such sale or offer is not permitted.
ABAX Brokerage Services LLC, member FINRA
INVESTMENT PRODUCTS NOT FDIC INSURED - NO BANK GUARANTEE - MAY LOSE VALUE
Contacts:
Brookfield Global Listed Infrastructure Income Fund Inc.
Three World Financial Center
200 Vesey Street
New York, NY 10281-1010
(800) 497-3746
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Datum: 26.08.2011 - 06:30 Uhr
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