Brookfield Business Partners begins trading on TSX, NYSE
Brookfield Asset Management has completed the spin-off of Brookfield Business Partners LP (BBU), a listed vehicle that allows shareholders to invest directly in the Toronto-based firm's private equity portfolio. The spin-off, accomplished by a special US$500 million distribution, resulted in BBU's initial trading today on the Toronto Stock Exchange and the New York Stock Exchange under the symbols BBU.UN and BBU, respectively. Shareholders now own a 22 percent interest in the vehicle, with Brookfield holding the balance. As reported earlier this month by PE Hub Canada, Brookfield recently closed its fourth private equity fund at US$4 billion.
20 June 2016•6 mins read
