Brookfield's U.K. unit buys Pall Mall business

Brookfield Investment Management (UK) acquired the European high-yield fund management business of Pall Mall Investment Management.

Terms weren't disclosed.

A team of five investment professionals and roughly $370 million in assets from Pall Mall will go to Brookfield. The team, led by Curt Schibli and Jonathan Goble, both managing directors and portfolio managers, run Pall Mall High Yield Europe Plus, an institutionally focused fund, according to a news release. The fund's name was changed to Brookfield High Yield Europe Plus.

Brookfield spokeswoman Alice Olive said the London team will allow U.S. parent Brookfield Investment Management to expand its U.S. high-yield capabilities and to pursue global strategies as well.