Canada-based Brookfield Asset Management is seeking discounted assets in Europe given the increasing volume of sales happening in the region and also sees opportunities in Latin America and in the hard-hit commodity sector, according to Brian Lawson, CFO of the firm.
Lawson said that the firm is now focusing its investments in Europe because it is an attractive market and emphasized that the economic situation in the region has improved.
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Brookfield might also look around in Spain for cheap investments and over the past five years the firm had been investing in the energy sector, infrastructure assets in the emerging markets, and real estate in the United States.
"For the past while we’ve been buying non-European assets from European owners that are deleveraging. Now we’re a lot more comfortable…in buying assets on the continent," said Lawson.
The company is also seeking for opportunity among hard-hit resource companies, which could be enticed to sell off power or infrastructure assets.
Currently, Brookfield Asset Management has C$7 billion assets under management in Europe and Middle East compared with C$114 billion in the United States and its global portfolio has a market value of approximately $180 billion.
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By GlobalDataIn Latin America, the firm found opportunities in countries suffering from capital flights and declining currencies such as Brazil and Chile.
Lawson said: "All that money flowed in there and then it flowed out, and any time capital’s fleeing is a good time to be thinking about entering."
