Brookfield Asset Management to acquire a 19.9% stake in Cromwell Property Group from ESR Group.

Brookfield Asset Management, an alternative asset management company, agreed to acquire a 19.9% stake in Cromwell Property Group, a real estate investor and fund manager, from ESR Group, an Asia focused Real Estate services and investment company. Financial terms were not disclosed. “The key strategic objectives are to simplify the business, bolstering our balance sheet and recycling capital. We aim to grow the core of our business, which includes our fund management platform, focusing on logistics and data centers, as well as infrastructure,” Phil Pearce, ESR President.