Brookfield, Sequoia Capital China partner on ‘new economy’ infrastructure

Brookfield Asset Management, the Toronto-based real assets investment manager, and venture capital company Sequoia Capital China announced on Thursday a strategic partnership, focused on supporting entrepreneurs building companies on the mainland.

In separate news releases, the two companies said Brookfield has also become the largest limited partner of the Sequoia China Infrastructure Fund, which Sequoia announced it had closed Thursday.

Neither firm would provide details regarding the size of the fund or Brookfield’s commitments to it.

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The companies said the new partnership would wed Brookfield’s experience in the financing and operation of infrastructure and other real assets with the experience Sequoia has gained supporting “new economy” startups in China over the past 17 years.

The news release said the Sequoia China Infrastructure Fund will look to support entrepreneurs in segments such as “modern logistics, cold chain logistics, data centers, new economy business parks, modern manufacturing workshops, life science parks and new energy infrastructure.”

Brookfield’s news release said it had roughly $650 billion in assets under management across real estate, infrastructure, renewable power, private equity and credit. That includes $158 billion managed by Oaktree Capital Management, the alternative investments firm in which Brookfield acquired a majority interest in 2019.

Source: Pensions & Investments

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