Brookfield Nets 18% on Colombia Asset Sale to Affiliate, Qatar

A Brookfield Asset Management infrastructure fund is generating a return of 18% by selling a stake in a renewable power company in Colombia to investors led by an affiliate of the New York-based investment firm, according to people familiar with the matter.

Managers at Brookfield Infrastructure Fund III told investors Friday they had reached an agreement to exit the asset via a sale to a consortium led by Brookfield Renewable Partners and the Qatar Investment Authority, in a deal that will deliver about $1.4 billion or 3.3 times gross multiple of invested capital, according to the people, who asked ...