Brookfield Select Opportunities Income Fund to be Wound Up
TORONTO, March 14, 2023 (GLOBE NEWSWIRE) -- Brookfield Public Securities Group LLC (“PSG”), the manager of Brookfield Select Opportunities Income Fund (the “Fund”) (TSX: BSO.UN), has determined, with the Fund’s trustees’ consent, following a strategic review of the Fund announced on December 19, 2022, to terminate the Fund on or about April 18, 2023 (the “Termination Date”). As set out in the Fund’s declaration of trust, the Manager may terminate the Fund upon not less than 30 days’ notice to unitholders of the Fund (the “Unitholders”) by way of a press release.
The affairs of the Fund shall be wound up and, following the satisfaction of all liabilities and obligations of the Fund, the Fund will distribute to unitholders on a pro rata basis an amount equal to the Fund’s net asset value on the Termination Date. Following such distribution, the Fund will terminate.
Brookfield Public Securities Group LLC (“Public Securities Group” or “PSG”) is a Delaware limited liability company and an indirect wholly owned subsidiary of Brookfield Asset Management ULC, an unlimited liability company formed under the laws of British Columbia, Canada (“BAM ULC”). Brookfield Corporation, a publicly traded company (NYSE: BN; TSX: BN), holds a 75% interest in BAM ULC, while Brookfield Asset Management Ltd., a publicly traded company (NYSE: BAM; TSX: BAM) (“Brookfield Asset Management”), holds a 25% interest in BAM ULC. Brookfield Asset Management is a leading global alternative asset manager with approximately US$800 billion of assets under management as of December 31, 2022.
PSG is registered as an investment fund manager in Ontario, Quebec, Newfoundland and Labrador and as portfolio manager in each of the provinces and territories of Canada. PSG is an SEC-registered investment adviser and represents the Public Securities platform of Brookfield Asset Management Ltd., providing global listed real assets strategies including real estate equities, infrastructure equities, multi-strategy real asset solutions and real asset debt. With over US$22 billion of assets under management as of January 31, 2023, PSG manages separate accounts, registered funds and opportunistic strategies for institutional and individual clients, including financial institutions, public and private pension plans, insurance companies, endowments and foundations, sovereign wealth funds and high net worth investors. For more information, go to .
The Fund uses its website as a channel of distribution of company information. Financial and other material information regarding the Fund is routinely posted on and accessible at .
Forward-Looking Statements
This press release may contain forward-looking statements. Forward-looking statements may be identified by words such as anticipate, may, will, expect, estimate, should, believe and similar expressions. Such statements reflect the opinion of PSG regarding factors that might be reasonably expected to affect the Fund including, without limitation, statements regarding and related to the termination of the Fund, and are based on information available at the time of writing. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. PSG believes that the expectations reflected in these forward-looking statements and in this press release are reasonable but no assurance can be given that these expectations or the press release will prove to be correct and accordingly, they should not be unduly relied upon. These statements speak only as at the date of this press release and PSG undertakes no obligation to update or revise any forward-looking statements except as otherwise required by law. Actual events and outcomes may differ materially from those described in these forward-looking statements or press release.
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