Almost five years on from buying Aveo Group, Canadian private equity firm Brookfield Corporation (TSX:BN) is placing the retirement village operator back on the market in a sale that could be worth $3 billion. DataRoom understands that investment banks have been invited to pitch in the past fortnight for a role selling what is one of the country's largest retirement operators. Among Aveo's lenders are believed to be Goldman Sachs and Macquarie Capital, so they may be well placed when it comes to landing a role.

Brookfield has been working to sell Aveo's Tasmanian, Adelaide and Western Australia assets in a quest to position the business as an eastern seaboard index-linked bond. The understanding is that the invitation to pitch has gone far and wide to multiple advisers. Their job is to tell Brookfield how they would sell the business and to whom it would be sold.