NEW YORK, March 09, 2020 (GLOBE NEWSWIRE) -- Brookfield Public Securities Group LLC (“Brookfield”) announced today that the reorganization of Brookfield Global Listed Infrastructure Income Fund Inc. (INF) into Brookfield Real Assets Income Fund Inc. (RA) (the “Reorganization”) was completed prior to the open of the New York Stock Exchange on March 9, 2020.
In the Reorganization, RA acquired all of the assets and liabilities of INF in a tax-free transaction in exchange solely for newly issued RA common shares, which were distributed by INF to its stockholders in the form of a liquidating distribution. RA common shares issued to INF stockholders have an aggregate net asset value equal to the aggregate net asset value of INF’s common shares outstanding as of the close of trading on March 6, 2020. Each stockholder of INF received the number of RA common shares corresponding to his or her proportionate interest in the common shares of INF, less the costs of the Reorganization. Fractional common shares of RA were not issued and consequently cash will be distributed for any such fractional amounts.
Relevant details pertaining to the Reorganization are as follows:
|Fund Name||Ticker||NAV/Share||Conversion Ratio|
|Brookfield Global Listed Infrastructure Income Fund Inc.||INF||$13.9484||0.62488632|
|Brookfield Real Assets Income Fund Inc.||RA||$22.3215||N/A|
This press release is not intended to, and shall not, constitute an offer to purchase or sell shares of RA, the surviving fund in the Reorganization. Detailed information on the Reorganization is contained in the Joint Proxy Statement/Prospectus previously filed with the SEC, including important information regarding the investment objectives, risks, charges and expenses of RA.
Certain statements made in this news release that are not historical facts are referred to as "forward-looking statements" under the U.S. federal securities laws. Actual future results or occurrences may differ significantly from those anticipated in any forward-looking statements due to numerous factors. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will" and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ from the historical experience of Brookfield Public Securities Group LLC and the Fund managed by Brookfield Public Securities Group LLC and its present expectations or projections. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Brookfield Public Securities Group LLC and the Fund managed by Brookfield Public Securities Group LLC undertake no responsibility to update publicly or revise any forward-looking statements.
Brookfield Public Securities Group LLC (“PSG”) is an SEC-registered investment adviser that represents the Public Securities platform of Brookfield Asset Management Inc., providing global listed real assets strategies including real estate equities, infrastructure equities, energy infrastructure equities, multi-strategy real asset solutions and real asset debt. With more than $19 billion of assets under management as of December 31, 2019, PSG manages separate accounts, registered funds and opportunistic strategies for financial institutions, public and private pension plans, insurance companies, endowments and foundations, sovereign wealth funds and individual investors. PSG is a wholly-owned subsidiary of Brookfield Asset Management Inc., a leading global alternative asset manager with over $540 billion of assets under management as of December 31, 2019. For more information, go to www.brookfield.com.
Brookfield Real Assets Income Fund Inc. is managed by Brookfield Public Securities Group LLC. The Fund uses its website as a channel of distribution of material company information. Financial and other material information regarding the Fund is routinely posted on and accessible at www.brookfield.com.
Brookfield Real Assets Income Fund Inc.
250 Vesey Street, 15th Floor
New York, NY 10281-1023
Investing involves risk; principal loss is possible. Past performance is not a guarantee of future results.
Quasar Distributors, LLC, provides filing administration for Brookfield Real Assets Income Fund Inc.