NEWS
Brookfield to acquire a minority interest in American Real Estate Partners
American Real Estate Partners( AREP), a leading institutional fund manager and real estate developer, and Brookfield Asset Management, a leading global alternative asset manager headquartered in New York with over US $ 1 trillion of assets under management, have 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 centre 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.
“ Over the past several years, we have built AREP into a differentiated real estate investment and data centre development platform, and we are excited to welcome Brookfield as a partner,” said Brian Katz, Co-founder and President of American Real Estate Partners.“ Brookfield brings tremendous global experience and capabilities, and we look forward to partnering in this next and exciting chapter of growth at AREP.”
Ben Brown, Co-president of Brookfield’ s Real Estate Group, said:“ We are in the early stages of a multi-decade buildout of physical infrastructure required for AI. AREP is a strong, synergistic partner with institutional quality data centre development capabilities and similar goals across the digital and power sectors, all of which aligns with our disciplined approach to integrated data centre development.”
Committee says government cannot expand Heathrow without requiring aviation industry to clean up its emissions
The Climate Change Committee( CCC) has advised that there is no credible pathway for Heathrow Airport expansion within the UK’ s climate commitments under current policies.
In additional advice requested by the UK Government, the independent statutory body says that the only way that expansion could be consistent with the UK’ s carbon budgets and net zero target is if ministers implement a robust set of policies requiring the aviation industry to get to zero emissions by 2050. This could be achieved through a combination of direct emissions reductions and the purchase of engineered removals.
Nigel Topping CMG, Chair of the Climate Change Committee, said:“ Our advice today is clear – Heathrow expansion is not currently compatible with the UK’ s net zero target. Government needs to ensure that the aviation industry takes responsibility for the emissions it creates and bears the costs of decarbonisation. Those conditions do not exist today.”
The government also asked the committee to provide advice on the draft Heathrow Expansion National Policy Statement( HENPS). The CCC’ s view is that the climate test in the draft HENPS must be strengthened to explicitly include the UK’ s 2050 net zero target.
The report highlights that emissions from aviation have more than doubled since 1990, while emissions across the UK economy as a whole have halved. Heathrow Airport is currently responsible for around half of the aviation industry’ s emissions.
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