Canada's Brookfield makes a foray into development management business

Undertakes commercial project for Pune landlord

Canada-based private equity (PE) fund manager Brookfield Asset Management has forayed into development management business in the country wherein it will manage development and construction of properties of landlords or developers for a fee. This is the first time any global PE fund manager has entered this business.

Brookfield is doing a 2-million square feet (sq. ft) infotech special economic zone (SEZ) project of Wadia Stud Farm in Yerawada area of Pune, said a source in the know.

“Though they are developers themselves, it is the first time they are doing development management for others. If it becomes successful, they