American Real Estate Partners ("AREP"), a leading institutional fund manager and real estate developer, and Brookfield Asset Management Ltd. (NYSE:BAM, TSX:BAM) ("BAM"), a leading global alternative asset manager headquartered in New York with over $1 trillion of assets under management, today announced that affiliates of Brookfield have agreed to acquire a minority interest in AREP for an undisclosed amount.

The investment brings together AREP’s vertically integrated data center development platform with Brookfield’s global scale, investment capabilities and experience across real estate, energy and infrastructure. The partnership will support AREP as it continues to grow its investment and development platform across its core markets and asset classes.