Brookfield Asset Management Inc.
NYSE : BAM
EURONEXT : BAMA
TSX : BAM.A

Brookfield Asset Management Inc.

September 09, 2009 10:49 ET

Brookfield Announces US$400 Million Colombia Infrastructure Fund

TORONTO, ONTARIO--(Marketwire - Sept. 9, 2009) -

NOT FOR DISTRIBUTION IN THE UNITED STATES

Brookfield Asset Management ("Brookfield") (TSX:BAM.A) (NYSE:BAM) (EURONEXT:BAMA) today announced the first closing of the US$400 million Brookfield Colombia Infrastructure Fund. The closing was achieved with commitments of US$320 million, making it the largest private equity and infrastructure fund ever raised in Colombia. Investors in the fund include Colombian institutional investors and Brookfield.

Thomas Keller, Brookfield's Managing Partner for Latin America Infrastructure said: "We are pleased to have this vote of confidence from Colombian institutional investors." Fernando Garcia-Rossel, Brookfield's Head of Andean Region Infrastructure added: "This initiative is an important step in our plan to expand our presence in Colombia and occurs at a time of attractive investment opportunities in the Colombian market."

About Brookfield Asset Management

Brookfield is a leading global asset manager offering private equity investment strategies in real estate, renewable power generation, infrastructure and special situations to institutional investors. The firm currently has over US$80 billion of assets under management of which approximately US$8 billion are invested in Latin America. The firm has over 400 investment professionals and 9,700 operating employees in over 50 offices and operating locations around the world. Brookfield's strategy is to combine best-in-class operating platforms and best-in-class transaction execution capabilities to invest in targeted assets and actively manage them to achieve superior returns over the long term.

Forward-looking Statements

Note: This news release contains forward-looking information within the meaning of Canadian provincial securities laws and "forward-looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, Section 21E of the U.S. Securities Exchange Act of 1934, as amended, "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 and in any applicable Canadian securities regulations. The words "plan", "expand", "strategy", derivations thereof and other expressions that are predictions of or indicate future events, trends or prospects and which do not relate to historical matters identify forward-looking statements. Forward-looking statements in this news release include statements in regards to Brookfield's ability to expand its presence in Columbia, its strategy and other statements with respect to Brookfield's beliefs, outlook, plans, expectations and intentions for the Fund. Although Brookfield Asset Management believes that the anticipated future results, performance or achievements expressed or implied of such assets by the forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information as such statements and information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information.

Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements include: economic and financial conditions in the countries in which we do business; the behaviour of financial markets; the market, including competition, in the private equity and infrastructure space; and other risks and factors detailed from time to time in the company's form 40-F filed with the Securities and Exchange Commission as well as other documents filed by the company with the securities regulators in Canada and the United States including the company's most recent Management's Discussion and Analysis of Financial Results under the heading "Business Environment and Risks."

We caution that the foregoing factors that may affect future results is not exhaustive. When relying on our forward-looking statements to make decisions with respect to Brookfield Asset Management, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Except as required by law, the company undertakes no obligation to publicly update or revise any forward-looking statements or information, whether written or oral, as a result of new information, future events or otherwise.

For more information, please visit our web site at www.brookfield.com.

Contact Information

  • Brookfield Asset Management Media
    Denis Couture
    SVP, Corporate and International Affairs
    (416) 956-5189
    (416) 363-2856 (FAX)
    dcouture@brookfield.com
    or
    Investor Relations
    Katherine Vyse
    SVP, Investor Relations and Communications
    (416) 369-8246
    (416) 363-2856 (FAX)
    kvyse@brookfield.com