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Brookfield Public Securities Group completes acquisitions of Center Coast Capital and certain Liberty Street and HRC assets

Brookfield Asset Management’s Public Securities Group has completed the acquisitions of Center Coast Capital Holdings (CCC), an energy infrastructure-focused, Houston-based SEC-registered investment adviser with approximately USD4 billion in assets under management, and certain assets of Liberty Street Advisors (Liberty Street) and its affiliates, HRC Fund Associates, and HRC Portfolio Solutions, (collectively, HRC).

HRC served as the third-party marketing and servicing agent of CCC products to financial advisors and wealth managers at major wirehouses, independent registered investment advisers and independent broker-dealers. The acquisitions were previously announced on 10 October, 2017.
 
“These acquisitions mark an important step in the growth of the Public Securities Group, which now has more than USD20 billion of assets under management. We have complemented our real assets and alternatives focus with a dedicated energy infrastructure capability—one that expands our investment platform and diversifies our offerings of public securities portfolios. Our investors will gain access to standalone midstream infrastructure strategies, at what we see as a pivotal point in the cycle. Adding this team of seasoned investment professionals expands and strengthens our research and investment capabilities for the benefit of clients globally,” says Craig Noble, Senior Managing Partner at Brookfield and CEO of Brookfield’s Public Securities Group. “We are also excited to welcome members of HRC’s team to Brookfield, who will continue to service financial advisors and bolster the retail distribution capabilities of our entire platform.”
 
The newly established dedicated energy infrastructure investment team, led by Dan Tutcher, Rob Chisholm and Jeff Jorgensen, will remain based in Houston and will manage the Center Coast Brookfield MLP Focus Fund and Center Coast Brookfield MLP & Energy Infrastructure Fund. Liberty Street and HRC team members join Brookfield to form the foundation of our Wealth Management Group. They will continue to service the Financial Advisor community across the country as they expand our presence in these distribution channels.
 
Berkshire Capital served as financial advisor to Brookfield and Paul Hastings served as its legal advisor. Sandler O’Neill + Partners, served as financial advisor to CCC and Skadden, Arps, Slate, Meagher & Flom, Porter Hedges and Alston & Bird served as its legal advisors. Moelis & Company served as financial advisor to Liberty Street and HRC, and Lowenstein Sandler and Stradley Ronon Stevens & Young served as their legal advisors.

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