Sir Ron Kalifa, the former head of the London-based payments processing company, will lead the Canadian investment group’s expansion into financial infrastructure assets. (The Logic)

Talking Point: Kalifa’s appointment underscores Brookfield’s efforts to move beyond real estate, of which it has US$272 billion assets under management, and push further into the financial infrastructure space. Brookfield plans to target more financial infrastructure deals through its private equity strategy, which raised US$12 billion earlier this year, and has already held talks with some central banks about providing investments or expertise to upgrade financial systems, according to the Financial Times. To date, Brookfield has invested or committed around US$5 billion in payments companies, including Dubai-based payment provider Network International, which it acquired in June for US$2.76 billion, and Magnati, a payments business Brookfield bought a 60 per cent stake in from First Abu Dhabi Bank in early 2022.