Insignia Financial (ASX:IFL) received a confidential, non-binding, and indicative takeover proposal via a scheme of arrangement from Brookfield Capital Partners (UK) at AU$4.60 cash per share, according to a Wednesday filing with the Australian bourse.

Brookfield's offer is the same as that of CC Capital Partners' revised proposal and Bain Capital's second revised proposal, the filing said.

To determine if Brookfield Capital can further sweeten its proposal, the wealth manager has granted the investment firm due diligence on a non-exclusive basis, the filing added.

The company confirmed there is no certainty of a transaction, and shareholders are advised no action is needed at this stage.