RIYADH: Brookfield Asset Management Inc. is all set to spin off its asset management business, in an attempt to simplify the organizational structure, Business Insider reported, quoting a source familiar with the matter. According to the report, the newly created entity will manage Brookfield’s fee-generating assets, such as real estate, infrastructure, credit, private equity and renewable energy. The new move is expected to be welcomed by investors, as it gives them the option to buy into the asset management unit, rather than investing in its skyscraper or gas business. Bruce Flatt, CEO of Brookfield, had previously said that this new entity will have an equity value of as much as $100 billion.