Brookfield Wealth Solutions (BNT) has mostly withdrawn from private credit investments as rising demand shrinks yields, Bloomberg reported Wednesday, citing the company's CEO Sachin Shah.
The Brookfield (BN) unit began decreasing its allocation to private credit six months ago and is almost no longer investing in the space, the executive said at the Global Insurance Summit in London, according to the report.
The move goes against the trend of the company's competitors, who are looking for more opportunities in the asset class, Bloomberg said.
Brookfield Wealth Solutions did not immediately reply to a request for comment from MT Newswires.
Shares of Brookfield and Brookfield Wealth Solutions were up more than 2% in recent trading.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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