Brookfield Announces A Strategic Partnership With Soundcore Capital Partners And Heartland Paving Partners; Financial Terms Of The Transaction Were Not Disclosed
Portfolio Pulse from Benzinga Newsdesk
Brookfield Asset Management Ltd. (NYSE:BAM) announced a strategic partnership with Soundcore Capital Partners and Heartland Paving Partners to accelerate growth in the Upper Midwest market. This marks Brookfield's first investment through its private equity sponsor solutions strategy, aimed at providing solutions to mid-market buyout sponsors. The partnership is expected to leverage Brookfield's experience in real assets to support Heartland's expansion in the commercial paving sector.
April 04, 2024 | 12:14 pm
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Brookfield Asset Management's partnership with Soundcore and Heartland Paving is expected to accelerate growth in the commercial paving sector, leveraging Brookfield's vast experience in real assets.
The partnership is Brookfield's first investment through its private equity sponsor solutions strategy, focusing on mid-market buyout sponsors. This strategic move into the commercial paving sector, a stable yet fragmented market, is likely to enhance Brookfield's portfolio and offer significant growth opportunities. Given Brookfield's history and the strategic nature of this partnership, it is expected to have a positive short-term impact on BAM's stock price.
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