Brookfield shuts realty advisory arm in India

MUMBAI: Brookfield has shut down a small financial and real estate advisory office in India (BFIN) and retrenched about 15 executives, two people familiar with the matter told ET.

BFIN has many offices globally, which will continue. Brookfield had started its facility management services in India about three years ago.

“All such employees have been asked to leave as the real estate advisory arm has stopped functioning from the start of the new financial year,” one of the persons cited above told ET. The unit used to report to the London office directly.


Brookfield, one of the most aggressive investors in India, will continue to run its other businesses besides advisory, said one of the sources mentioned above.

An email query sent to Brookfield remained unanswered until the publication of this report.

Meanwhile, Brookfield has sold its integrated facilities management company to CCMP Capital Advisors for $1 billion last year. Chief Executive Officer, Gordon Hicks, and the management team will remain in place and work with CCMP to support the company’s next phase of growth, Businesswire had reported earlier.

The deal with CCMP is anticipated to close this quarter (April-June), subject to customary closing conditions.