Brookfield Investment Management (UK) has acquired the European high yield fund management business of Pall Mall Investment Management.
The acquisition encompasses Pall Mall's high yield business, which manages corporate high yield securities on behalf of institutional clients and German financial institutions.
It also includes the fund, $305m Pallmall Funds ICVC, which has been renamed as Brookfield Funds ICVC. With an 11-year track record, the Pall Mall silver High Yield Europe Plus Fund, a sub fund of Pall mall Funds ICVC.
The team of five investment professionals from Pall Mall will join Brookfield Investment Management (UK) and they will be led by Curt Schibli and Jonathan Goble.
Pall Mall operates in London and Germany.
Brookfield Investment Management the CEO Kim Redding said that this acquisition represents a strategic opportunity to extend the existing high yield business into a global asset class.
"Exploiting the expected growth of the global high yield bond market is a key priority for Brookfield Investment Management and the integration of Pall Mall's high yield business is a significant part of that effort," said Redding.
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