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The two funds are the first to merge using an extended public offer licence, allowing the combined entity to maintain two separate brands and leaving open the possibility of other superfunds joining in future.
A merger would create country’s second-biggest superfund, behind only AustralianSuper and ahead of QSuper.
Sister publication PEI's interactive charts paint a picture of how the two would marry together.
The deal will allow Oaktree to operate independently, though Brookfield intends to build up its stake.
AMOAI, the new entity resulting from Asset Management One’s acquisition of Mizuho Global Alternative Investments, is targeting close to $900m for the new vehicle.
The deal is a debut transaction for the government-backed vehicle’s Strategic Fund and comes amid growing concerns surrounding bad loans in the country’s infrastructure sector.
Commonwealth Bank of Australia is selling the asset manager in a separate transaction from the planned demerger of its wealth management businesses.
GIP India is focused on deploying the roughly $100m remaining in Fund II, inherited after acquiring IDFC Alternatives’ infrastructure business, before deciding on a future strategy.
The firm has already announced two deals in the power and transport sectors since being acquired by the Canadian bank.
The NY-based fund manager will acquire IDFC Alternatives’ infrastructure business, which will be rebranded as GIP India.
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