Key Takeaways
- • Fidelity Investments Canada ULC has partnered with Brookfield Asset Management to offer Canadian private real estate investment exposure through newly formed investment pools, democratizing access to institutional-quality assets for high-net-worth investors.
- • Brookfield Asset Management, which manages over $825 billion in assets under management across renewable power, private equity, real estate, and credit, will serve as the portfolio manager and investor for the Canadian real estate assets on behalf of Fidelity.
- • Fidelity plans to allocate the private real estate portfolio across multiple Fidelity private investment pools while exploring additional opportunities, positioning the partnership as a cornerstone of its alternative investment expansion strategy.
- • Andrew Wells, Fidelity Canada president, characterized the agreement as a strategic capability addition that enables the firm to expand its alternative investment offerings and build a dedicated private real estate market portfolio.
Summary
Fidelity Investments Canada ULC has entered into a strategic partnership with Brookfield Asset Management to provide Canadian investors with access to private real estate investments traditionally reserved for institutional players. Under the agreement announced July 12, 2023, Brookfield Asset Management will invest in and manage a newly formed portfolio of Canadian real estate assets on behalf of Fidelity, creating a structured vehicle for capital deployment in the private real estate sector.
The arrangement addresses a market gap by broadening Fidelity's alternative investment capabilities. The deal is designed to allocate portfolio exposure across multiple Fidelity private investment pools, with the firm explicitly noting it is exploring additional opportunities to expand the partnership's scope. This tiered approach allows Fidelity to scale the offering while maintaining flexibility in product structuring for different investor segments.
Brookfield Asset Management brings substantial operational and financial scale to the partnership. The firm manages more than $825 billion in assets under management across diversified sectors including renewable power and transition infrastructure, private equity, real estate, and credit. This institutional-grade infrastructure positions Brookfield as a capable custodian of Canadian real estate assets, leveraging its established market presence and operational expertise.
According to Fidelity Canada President Andrew Wells, the partnership represents a deliberate strategic expansion: "the move adds another tool to its tool box as it plans to expand its offerings and build a new private real estate market portfolio." The characterization underscores Fidelity's broader mandate to enhance its alternative investment suite—a critical competitive differentiator in wealth management as institutional and high-net-worth investors increasingly allocate capital to non-traditional asset classes. The agreement positions both firms to capitalize on sustained investor appetite for real estate exposure in the Canadian market while maintaining institutional-grade governance and asset selection standards.
The arrangement addresses a market gap by broadening Fidelity's alternative investment capabilities. The deal is designed to allocate portfolio exposure across multiple Fidelity private investment pools, with the firm explicitly noting it is exploring additional opportunities to expand the partnership's scope. This tiered approach allows Fidelity to scale the offering while maintaining flexibility in product structuring for different investor segments.
Brookfield Asset Management brings substantial operational and financial scale to the partnership. The firm manages more than $825 billion in assets under management across diversified sectors including renewable power and transition infrastructure, private equity, real estate, and credit. This institutional-grade infrastructure positions Brookfield as a capable custodian of Canadian real estate assets, leveraging its established market presence and operational expertise.
According to Fidelity Canada President Andrew Wells, the partnership represents a deliberate strategic expansion: "the move adds another tool to its tool box as it plans to expand its offerings and build a new private real estate market portfolio." The characterization underscores Fidelity's broader mandate to enhance its alternative investment suite—a critical competitive differentiator in wealth management as institutional and high-net-worth investors increasingly allocate capital to non-traditional asset classes. The agreement positions both firms to capitalize on sustained investor appetite for real estate exposure in the Canadian market while maintaining institutional-grade governance and asset selection standards.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.