As many of its rivals refrain from committing capital to the region amid an ever-growing list of risk factors, the US$725 billion Canadian investment giant is making plans to buy in sectors ranging from clean energy to technology, open new offices and raise fresh money. More than US$12 billion this year, Brookfield’s spending in Europe has already hit an annual record. In a further sign of its dealmaking ambitions, the infrastructure specialist also teamed up with Cellnex Telecom SA to pursue a bid for Deutsche Telekom AG’s US$20 billion towers unit.
Brookfield made its first investments in Europe some 20 years ago. Its early bets were in real estate before the 2008 financial crisis saw the net cast wider to capture opportunities in infrastructure, renewable energy, private equity, and credit. It now manages more than $125 billion in Europe, up from roughly $6 billion a decade ago and employs around 300 people in the region. While most are based in London, there are plans to establish operations in Europe’s other main financial hubs.