AIG Global Real Estate has agreed to sell its asset management business in India to Brookfield Asset Management following the closure of the New York-based private equity fund of AIG in the region.
As part of the sale, the assets of AIG Global Real Estate India Advisors in India will be transferred to Brookfield Asset Management, reported Economic Times.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Under the deal, Bamasish Paul, the India managing director of AIG Global Real Estate, will join Brookfield Asset Management as a senior vice-president and will continue to manage the portfolio.
In his new role, Paul will report to Anuj Ranjan, senior vice-president and country head at Brookfield Asset Management in India.
According to spokesperson of the company, "AIG India fund is closing down completely as the fund has no short-to-medium-term plans for India. All four employees of the AIG fund in India will join Brookfield Asset Management.
Through this acquisition, Brookfield Asset Management will be able to build its real-estate platform in India.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataGlobally, the alternative asset manager manages more than US$175 billion in assets.
