Brookfield, Societe Generale Join Forces to Launch $10.70 Billion Private-Debt Fund

By Mauro Orru

Brookfield Asset Management is partnering with France’s Societe Generale to set up a private-debt fund worth 10 billion euros ($10.70 billion) over the next four years, a move the companies say will significantly increase their financing footprint while addressing growing demand for private debt.

The French bank said Monday that the fund would initially launch with EUR2.5 billion targeting the power, renewables, data, midstream and transportation sectors. The fund is also expected to help Brookfield and Societe Generale meet the needs of insurance companies with investment-grade products based on their ratings and duration requirements.