Brookfield Global Listed Infrastructure Income Fund Inc. INF, announced the completion and preliminary results of its transferable rights offering which raised approximately $60 million of gross proceeds.
The record date of the Offer was April 21, 2015 and the Offer expired on May 22, 2015.
Shareholders of record received one right for each outstanding share of common stock owned. The rights entitled holders to purchase one new Common Share of the Fund for every three rights held.
The law firm Paul Hastings LLP represented Brookfield Global Listed Infrastructure Income Fund Inc. in the offering.
The Paul Hastings team was led by Corporate partner and chair of the firm’s Investment Management practice Michael Rosella, and included associates Rachael Schwartz and Chris Tafone.
Brookfield Global Listed Infrastructure Income Fund Inc. is a non-diversified, closed-end management investment company.
The Fund’s investment objective is to provide a high level of total return, with an emphasis on income. Under normal market conditions, as a principal strategy, at least 80 percent of the Fund’s managed assets, as defined in the Fund’s prospectus, are invested in publicly traded equity securities of infrastructure companies listed on a domestic or foreign exchange, throughout the world, including the United States.
The Fund defines an infrastructure company as any company that derives at least 50% of its revenue or profits from the ownership or operation of infrastructure assets.
The Fund defines infrastructure assets as the physical structures, networks and systems of transportation, energy, water and sewage, and communication. Headquartered in New York, Brookfield had $19 billion of assets under management as of March, 2015.
