Abu Dhabi’s Axight Adds to Gulf M&A Wave With Brookfield Deal

Abu Dhabi’s Axight has bought a stake in an Australian alternative asset manager from Brookfield, adding to a flurry of dealmaking by regional entities despite disruptions caused by the Gulf war.

The private equity investment firm is taking a significant minority stake in La Trobe Financial, valuing the firm at about $2.1 billion. Brookfield will continue to be a majority shareholder following the transaction that’s expected to close around the third quarter.