Brookfield already has a substantial investment presence in the UK through its investments in firms such as Canary Wharf Group, where its UK office is also based.
Blumont Annuity has launched operations to provide bulk annuity solutions to pension schemes and their members.
The move follows the completion of an approval process carried out by the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) announced earlier this month.
Blumont Annuity is a wholly-owned subsidiary of Brookfield Wealth Solutions, the firm that was spun out of Brookfield Corporation in June 2021.
The launch of Blumont Annuity further extends Brookfield's presence in the UK, where it is an investor with over £63bn of assets under management across infrastructure, real estate, and renewable power. Brookfield and its UK portfolio companies employ approximately 23,000 people across the UK.
With over £500bn of demand for pension buyouts expected in the UK over the next decade, Blumont Annuity said it aims to provide "certainty of execution and excellent service to pension schemes and their members" – making it easier for pension schemes of all sizes to reduce balance sheet risk.
Blumont Annuity UK chief executive Thomas Olunloyo said: "Our mission and focus is to deliver great outcomes for pension scheme trustees and their members by providing safe and secure retirement income to pensioners for generations to come."
