09:27 AM EDT, 06/05/2024 (MT Newswires) -- Brookfield Asset Management ( BAM ) can triple the size of its private equity unit in the next five years, said Anuj Ranjan, the head of the business, in an interview with Bloomberg TV.

Expansion will be driven by North America and Western Europe, while Brookfield is also excited about opportunities in the Middle East, Ranjan said in an interview at the SuperReturn 2024 conference in Berlin. The investment giant will continue to focus on the industrials and essential services sectors, he said.

While the deal environment is not as exuberant as it was in 2020 or 2021, "activity is back," and "we have everything in place" for growth, said Ranjan, who was named chief executive of Brookfield's private equity business earlier this year.

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