Seeking Alpha

AIG reportedly sells India asset management biz to Brookfield

  • "AIG India Fund is closing down completely as the fund has no short-to-medium-term plans for India," says a source, who adds all four employees of the fund will join Brookfield Asset Management (BAM). The deal is expected to close by month's end.
  • From 2007-09, AIG invested $200M of the $300M fund across 5 projects - 3 of which it's exited. "The buyout is a good decision as it will help an established team like Brookfield leverage and help AIG exit some of its previous investment," says Cushman & Wakefield's Sanjay Dutt.
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