Brookfield Asset Management Inc. announced on Thursday that it will seperate and list 25% stakes in its asset management division. The announcement comes after Brookfield Asset Management Inc., a Toronto-based firm, had indicated it was looking at options for growth.

Brookfield stated that the company will hold an initial 75% share in the new entity. The rest will be distributed to current shareholders by year’s end.

According to the company, both the parent and separated units will trade on New York Stock Exchange as well the Toronto Stock Exchange.

Bruce Flatt (Chairman of Brookfield Asset Management) wrote to shareholders that his company was less attractive than its peers because it was too “asset heavy” in February.

Flatt said that the potential split might attract investors interested in Brookfield’s other units.

The last year was Wells Fargo (NYSE:) & Co also streamlined operations by selling its asset management arm to private equity firms GTCR LLC and Reverence Capital Partners for $2.1 billion.