Brookfield-backed Partners Value Split raises $87.7M in preferred share deal
What's the deal? Partners Value Split Corp.Dealroom has a profile for this one. Try Dealroom → is selling 5,000,000 Class AA Preferred Shares, Series 18, for gross proceeds of US$91.7M. A syndicate of underwriters led by ScotiabankDealroom has a profile for this one. Try Dealroom →, BMO Capital MarketsDealroom has a profile for this one. Try Dealroom →, CIBC Capital MarketsDealroom has a profile for this one. Try Dealroom →, RBC Capital MarketsDealroom has a profile for this one. Try Dealroom →, and TD SecuritiesDealroom has a profile for this one. Try Dealroom → is buying the shares on a bought deal basis.
The terms: The shares price at US$18.3 each, carry a fixed 5.30% coupon, and mature on September 29, 2033. DBRS Limited has given them a provisional Pfd-2 rating. Closing is expected on or about October 15, 2026.
What's the endgame? Partners Value Split owns roughly 179 million shares of Brookfield CorporationDealroom has a profile for this one. Try Dealroom → and about 25 million shares of Brookfield Asset ManagementDealroom has a profile for this one. Try Dealroom →. Those holdings yield quarterly dividends that fund the preferred shares and let capital shareholders capture any appreciation in the Brookfield stake.
Why now? Net proceeds will go toward distributions to the holder of the company's capital shares. Underwriters also hold an option to buy up to 1,000,000 more shares before closing, which would lift gross proceeds to US$110M.
The signal: At roughly $87.7 million, the raise ranks in the 90th percentile of all-time post-IPO equity rounds among Canadian fintech firms. It underscores how structured vehicles tied to Brookfield — which oversees over $1 trillion in assets through its asset-management arm — continue to tap public markets for fixed-income-style capital.
Read more: Business Insider
Image credit: Håkan Dahlström
