Brookfield Asset Management (BAM) Announces 17.9M Class A Common Offering

Brookfield Asset Management (NYSE: BAM) announced that it has agreed to issue 17.9 million Class A Limited Voting shares (the "Class A Shares"), on a bought deal basis, to a syndicate of underwriters co-led by CIBC, RBC Capital Markets, Citigroup Global Markets Canada Inc. and Deutsche Bank Securities, at a price of US$56.00 per Class A Share (the "Offering Price") for gross proceeds of US$1,000,160,000 (the "Offering"). In addition, current officers, directors and shareholders of Brookfield including Partners Value Fund Inc. (TSX VENTURE: PVF), and entities controlled by them, will purchase, directly or indirectly, an aggregate of 1,395,089 Class A Shares at the Offering Price concurrent with the Offering (the "Private Placement"). The aggregate gross proceeds of the Offering and the Private Placement will be US$1,075,159,985.

Brookfield has granted the underwriters an over-allotment option, exercisable in whole or in part for a period of 30 days following closing of the Offering, to purchase up to an additional 2,679,000 Class A shares at the Offering Price (prior to adjustment for Brookfield's three-for-two stock split announced on April 8, 2015). If this option is exercised in full, the gross offering size would increase to US$1,225,183,985.

Brookfield intends to use the net proceeds of the Offering and Private Placement for general corporate purposes, including the funding of future investments. The Offering and Private Placement are expected to close on or about April 27, 2015.

Bruce Flatt, Chief Executive Officer of Brookfield, stated "we are working on a number of attractive opportunities that will enable us to invest this capital, and while we rarely issue common shares, this capital should provide greater flexibility to assist us in generating increased returns over the long term on a per share basis."

"We have been increasing our capital resources throughout the organization, including our listed partnerships, through asset sales, long term debt placements and equity issues; and are also in the process of raising major capital commitments for a number of new private funds. Issuing equity capital at Brookfield will further augment our resources to pursue the wide array of investment opportunities in front of us."

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