Brookfield's listed unit launches $600 mln offering, OMERS to invest

Brookfield Business Partners (BBP), the listed affiliate of Brookfield Asset Management's private equity group, has launched a US$600 million equity offering. Of the total, US$400 million will be generated by BBP's issue of 6.7 million LP units and Brookfield's buy of 6.9 million REUs of BBP's holding vehicle. The Ontario Municipal Employees Retirement System (OMERS) will also be issued 6.7 million units, generating US$200 million. A greenshoe option may bring total proceeds to US$630 million. The funds raised will be used partly for recent deals and future opportunities. Brookfield last month partnered in a deal to acquire Toronto gaming assets.

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