Benzinga | 7 January 2011

 

TORONTO, ONTARIO--(Marketwire - Jan. 7, 2011) - Brookfield Asset Management today announced the final closing of its Brookfield Brazil Agriland Fund. The Fund is focused on investing in high quality agricultural growth opportunities across a region that is a recognized global leader in agribusiness. Investors in the Fund include a diverse group of global public and private pension plans, insurance companies and endowment funds and Brookfield, and total committed capital is US$330 million.

 

"We are very excited about the growth prospects in Brazil. Agriculture is one of many investment opportunities we see. It is a compelling time to be investing in the rapid economic growth of the country," says Luiz Lopes, Senior Managing Partner of Brookfield and President of Brookfield's Brazilian operations.

 

With more than 110 years of experience in Brazil, as well as readily converted properties that may be acquired at attractive entry values. Agricultural land is an attractive emerging asset class for institutional investors, due to the increasing demand for soft commodities resulting from growth in population and per capita income, improving diets and the growing use for biofuels.

 

Brookfield has been an owner and operator of assets in Brazil since 1899, and has a 28 year track record as a manager of agricultural lands. The Fund's local investment and operating team acquired approximately 240,000 acres of farmland in Brazil in the last five years. 

 

Since 2001, Brookfield has established a series of private funds and investment programs with total capital commitments of more than US$22 billion.