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COVID-19: Mall Developer to Invest $5 Billion in Retail

Brookfield’s private equity arm will fund struggling retailers

Published

5 years ago

May 8, 2020

VMSD Staff

Mall developer Brookfield Asset Management (Toronto) said it will invest $5 billion to assist struggling retailers, according to CNBC.

Through a retail revitalization program, Brookfield will work to acquire non-controlling stakes in retailers to help with their capital needs. Ron Bloom, managing partner and vice chair of Brookfield’s private equity business, will lead the effort.

“This initiative is being designed to assist medium-sized enterprises in getting back on their feet,” Bloom said in a statement. “We believe this is a critical component to getting the economy moving again, and we would like to partner with companies and entrepreneurs that can draw on our capital and expertise to stabilize and grow their business.”

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