Industry Newsroom

FIP Brascan Exits Brasoil to PetroRio (Latin America)

The Brascan Petroleum, Gas and Energy Fund (FIP Brascan), which is advised by Brookfield Asset Management subsidiary BRKB, has exited a 29.2 percent stake in Brazil-based oil and gas exploration and production company Brasoil to PetroRio, which now holds a 52.4 percent stake in the company. Financial terms of the transaction, which is subject to certain conditions including approval by the investment committee of FIP Brascan, were not disclosed.