Brookfield lands $1bn multi-asset mandate from UK's Nuclear Liabilities Fund

The NLF is handing Brookfield a discretionary mandate to deploy capital across the firm's full range of strategies, spanning infrastructure, energy, private equity, real estate, and private credit, through a mix of funds, direct investments, and co-investments. 'NLF has an exceptionally long investment horizon, and that creates an opportunity to invest differently,' said Alper Daglioglu, Head of Brookfield's Investment Solutions Group. 'Our partnership is built on a shared belief in long-term thinking, disciplined capital allocation and the power of compounding over decades. We will draw on the breadth of Brookfield capabilities to customize a portfolio around NLF's specific objectives and continue to evolve that portfolio as opportunities and needs change over time.' The Nuclear Liabilities Fund exists to ensure that money is available to cover the future cost of decommissioning eight of the UK's nuclear power stations, and it selected Brookfield after a competitive process. Chief executive Melissa Hope said the firm stood out for its depth of global investment capability, long-term perspective, and disciplined approach to portfolio construction and governance. Brookfield reported record second-quarter results in August, raising $77bn in the quarter, and completed its acquisition of the credit manager Oaktree the same month, deepening its private credit capabilities. It is also a substantial player in nuclear itself, through its majority ownership of Westinghouse alongside Cameco, though that sits on the asset side of its business rather than within this investment mandate.