Brookfield Asset Management (BAM) has closed its Brookfield Growth venture capital-focused unit, Bloomberg News reported Friday, citing unnamed sources familiar with the matter.
Sources told Bloomberg that the parent company is moving certain Brookfield Growth assets and workforce to its Pinegrove Capital division. According to Bloomberg, a Brookfield spokesperson said the company intends to move all its venture investments to Pinegrove Capital.
Brookfield Asset Management did not immediately respond to MT Newswires' request for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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