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Brookfield Raises $2 Billion for PIF-Anchored Middle East-Focused Fund

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Brookfield Asset Management (BAM) has raised $2 billion for Brookfield Middle East Partners, a new private equity fund anchored by Saudi Arabia's Public Investment Fund and other institutional partners, PIF said Monday.

The funds will go toward investments in the Middle East, focusing on high-growth Gulf Cooperation Council markets, with 50% of investments allotted in Saudi Arabia, the wealth fund said.

Brookfield is committing $500 million to the fund, PIF said.

Shares of Brookfield were up 2.1% in Monday afternoon trading.

Price: $47.34, Change: $+0.98, Percent Change: +2.13%

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