Brookfield Corporation Update on Initiatives for 2023

BROOKFIELD, NEWS, Dec. 22, 2023 (GLOBE NEWSWIRE) -- Brookfield Corporation (“Brookfield”) (NYSE: BN, TSX: BN) today released a summary of recent highlights to close out 2023, which is appended and posted on our website. The full text of the summary is below.

2023 Summary and Update

As we approach the end of 2023, and with a lot going on, we decided to take the opportunity to reflect on key highlights from the year and provide a summary of some recent notable achievements.

We were very active during 2023 amidst a broader market slowdown. In total, we deployed $55 billion of capital into some of the largest and most attractive investment opportunities globally across a variety of sectors. At the same time, monetizations totaled over $30 billion, generating strong returns for investors and underlining the fact that high-quality assets that form the backbone of the global economy remain in strong demand. All told, almost $100 billion of financings were arranged across our businesses and access to capital continues to be very strong.

December highlights include:

• Entropy, a Brookfield Renewable Power & Transition portfolio company, received an investment of C$200 million from The Canada Growth Fund, which provides an innovative carbon offtake agreement that underwrites the revenue for CCS projects pursued by Entropy.
• Everise, a Brookfield Private Equity portfolio company and leading global healthcare services outsourcing company, closed an investment from Warburg Pincus that values the company at approximately $1 billion, a strong increase over the initial investment.
• 150 Champs Élysées, a luxury retail property, was sold to LVMH for $1 billion.
• In addition to securing over 12 million square feet of leasing across our office portfolio in North America, Europe, and India in 2023, Barclays further highlighted the strong demand for premium quality office by remaining in its Canary Wharf headquarters and renewing its lease on roughly 1 million square feet of office space at 1 Churchill Place to 2039.
• We continued to expand our global presence, opening an office in Frankfurt and Riyadh this year.