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  • Seller
  • Buyer
  • Type
  • Date Announced
  • Seller AUM
  • Center Coast Capital Holdings, LLC
  • Brookfield Asset Management’s Public Securities Group
  • Mutual Fund / Real Estate Managers
  • October 10, 2017
  • $4 Billion

Seller Details

About Center Coast Capital Holdings
Founded in 2007, CCC manages energy infrastructure assets with an investment process focused on due diligence from an owner-operator perspective. CCC invests in a portfolio of MLPs and other high-quality energy infrastructure companies through the following products: Center Coast MLP Focus Fund (CCCAX) (CCCCX) (CCCNX) (the “Focus Fund”); Center Coast MLP & Infrastructure Fund (NYSE: CEN); separately managed accounts; and other investment funds. Liberty Street has served as the investment adviser to the Focus Fund since its inception on December 31, 2010, and HRC has served as the marketing and servicing agent to wealth management channels for CCC products since 2011, and also serves as the shareholder servicing agent to the Center Coast MLP & Infrastructure Fund. 

Liberty Street Advisors, Inc. is a New York-based SEC-registered investment adviser that serves as the investment adviser to the Liberty Street family of funds. 

HRC Fund Associates, LLC and HRC Portfolio Solutions, LLC is a New York-based third-party marketing and servicing agent of CCC products to financial advisors and wealth managers at major wire houses, independent registered investment advisers and independent broker-dealers.

Buyer Details

Brookfield Investment Management Inc. (the “Firm”) is an SEC-registered investment adviser and represents the Public Securities platform of Brookfield Asset Management Inc., providing global listed real assets strategies including real estate equities, infrastructure equities, multi-strategy real asset solutions and real asset debt.  With more than $15 billion of assets under management as of June 30, 2017, the Firm manages separate accounts, registered funds and opportunistic strategies for institutional and individual clients, including financial institutions, public and private pension plans, insurance companies, endowments and foundations, sovereign wealth funds and high net worth investors.  The Firm is a wholly-owned subsidiary of Brookfield Asset Management Inc., a leading global alternative asset manager with approximately $250 billion of assets under management as of June 30, 2017.  

Transaction Summary

Brookfield Asset Management’s Public Securities Group has entered into a definitive agreement to acquire Center Coast Capital Holdings, LLC, an affiliate of Center Coast Capital Advisors, LP (“CCC”).  In conjunction with the transaction, Brookfield also will acquire certain assets of Liberty Street Advisors, Inc. (“Liberty Street”), a New York-based SEC-registered investment adviser that serves as the investment adviser to the Liberty Street family of funds. Additionally, Brookfield will acquire certain assets of Liberty Street’s affiliates, HRC Fund Associates, LLC and HRC Portfolio Solutions, LLC  (collectively, “HRC”), a New York-based 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 acquisition of CCC will strengthen and expand Brookfield’s business and research capability, diversifying its real asset public securities investment offerings, which currently focus on real estate equities, infrastructure equities, real asset solutions and real asset debt.  In addition, with the acquisition of certain HRC assets related to CCC, Brookfield will broaden its national retail distribution capability that markets its suite of public securities investment funds.  CCC will benefit from Brookfield’s strong distribution relationships and the continued  development of its investment team, while broadening its product offerings. 
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