State Bank Of India

State Bank of India (SBI), the country’s largest lender, has inked an agreement with Brookfield Asset Management Inc to form a joint venture (JV), which will invest in stressed assets. The joint venture will be in the nature of an alternative investment fund.

Under the proposed JV, Brookfield will commit about Rs 7,000 crore and SBI up to 5% of total investments into stressed assets. The proposed JV will independently evaluate and invest in various stressed assets and will rely upon Brookfield’s operational expertise.

Brookfield is a global alternative asset manager with $240 billion in assets under management. It has an over 100-year history of owning and operating assets with a focus on property, renewable power, infrastructure and private equity.