Brookfield Select Opportunities Income Fund Completes $187.5 Million Initial Public Offering
May 23 2014 - 08:20AM
Marketwired
Brookfield Select Opportunities Income Fund Completes $187.5
Million Initial Public Offering
TORONTO, ONTARIO--(Marketwired - May 23, 2014) - Brookfield
Investment Management (Canada) Inc. (the "Manager") is pleased to
announce the closing of the initial public offering of Brookfield
Select Opportunities Income Fund (the "Fund") (TSX:BSO.UN).
Pursuant to the offering, the Fund issued an aggregate of 18.75
million units (the "Units") at a price of $10.00 per Unit for gross
proceeds of $187.5 million. The Units are listed on the Toronto
Stock Exchange under the symbol BSO.UN.
The Fund has been created to invest in a portfolio (the
"Portfolio") of fixed income and equity securities on a global
basis. The Fund will focus on, but will not be limited to,
investments in high yield corporate debt and publicly-listed equity
securities of infrastructure and real estate companies. The
Portfolio will be actively managed by the Manager.
The Fund's investment objectives are to:
|
(i) |
provide holders of the Units (the "Unitholders") with quarterly
cash distributions; |
|
(ii) |
maximize total return for Unitholders through distributions and
capital appreciation; and |
|
(iii) |
preserve capital. |
The quarterly cash distributions are initially targeted to be
6.0% per annum on the subscription price of $10.00 per Unit ($0.15
per Unit per quarter or $0.60 per Unit per annum).
The Manager is a wholly-owned subsidiary of Brookfield Asset
Management Inc., a Canadian based, global alternative asset manager
with US$190 billion in assets under management as of March 31, 2014
that has over a 100-year history of owning and operating assets
with a focus on property, renewable energy, infrastructure and
private equity.
The syndicate of agents for this offering was being led by RBC
Capital Markets and CIBC, and included Scotiabank, TD Securities
Inc., BMO Capital Markets, National Bank Financial Inc., Canaccord
Genuity Corp., GMP Securities L.P., Raymond James Ltd., Brookfield
Financial Corp., Desjardins Securities Inc., Haywood Securities
Inc. and Manulife Securities Incorporated.
Brookfield Select Opportunities Income FundMs. Alice Olive(855)
777-8001funds@brookfield.com
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