Brookfield Asset Management Inc, which manages US$70bn worth of assets worldwide, will spin off timber and electricity transmission assets into a publicly-listed infrastructure partnership.
Brookfield will maintain a 40% stake in the partnership, which will be listed on the New York Stock Exchange.
The company’s timberland assets stretch to two million acres, while other assets include hydro-electricity plants in North America and Brazil.
Brookfield intends to use money raised to fund acquisitions around the world in sectors possibly including pipelines, sea or airports.
