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Brookfield to invest up to US$700M in U.S. recycling business - BNN Bloomberg

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Brookfield Asset Management is making a foray into the recycling business, creating a new firm with an investment of as much as US$700 million through its sustainability fund.

Brookfield Asset Management Inc. is making a foray into the recycling business, creating a new firm with an investment of as much as US$700 million through its sustainability fund.

The new entity, formed from the merger of five of Closed Loop's portfolio companies, will handle paper, metal, glass, plastic, textiles and other materials in seven states, including New York and Texas. It will be the largest closely held recycling company in the U.S., according to a statement. Brookfield has invested US$200 million for a minority stake and committed as much as US$500 million more to help Circular Services pursue growth opportunities.

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