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BROOKFIELD REAL ASSETS INCOME FUND INC.Brookfield Place, 250 Vesey StreetNew York, New York 10281-1023

NOTICE OF 2020 ANNUAL MEETING OF STOCKHOLDERS

May 8, 2020

To the Stockholders:

Notice is hereby given that the 2020 Annual Meeting of Stockholders (the“Meeting”) of Brookfield Real Assets Income Fund Inc., a Marylandcorporation (the “Fund”), will be held on Thursday, June 18, 2020, at 8:30 a.m.,Eastern Time.

At the Meeting, stockholders will be asked to consider and vote on thefollowing proposals:

1. To consider and vote upon the election of the Class I Directors,each to serve until the third annual meeting following his electionand until his successor is duly elected and qualifies (“Proposal 1”).

2. To transact any other business that may properly come before theMeeting or any adjournment or postponement thereof.

The Board of Directors recommends that you vote “FOR” the nomineesnamed in the proxy statement.

Due to the public health impact of the coronavirus pandemic (COVID-19),and to support the health and well-being of Fund stockholders, the Meeting willbe held solely on the internet by virtual means. Stockholders will not be able toattend the Meeting in person. In order to participate in and vote at the Meeting,stockholders of record as of the close of business on April 13, 2020 (the “RecordDate”) need to register for the Meeting. If you are a registered holder, you mustregister at by emailing the Fund’s proxy solicitor, American Stock Transfer &Trust Company, LLC (“AST”), [email protected] by 11:59 p.m. EasternTime on June 17, 2020 using the control number found on your proxy card. Ifyou hold your Shares beneficially through a bank or broker, you must provide alegal proxy from your bank or broker during registration and you will be assigneda control number in order to vote your Shares during the Meeting. If you areunable to obtain a legal proxy to vote your Shares, you will still be able to attendthe Meeting live via the internet (but will not be able to vote your Shares) solong as you demonstrate proof of share ownership. Instructions on how toconnect and participate live via the internet, including how to demonstrate proofof share ownership, are included in the proxy statement, may be requested viaemail to [email protected] and will be included in a final emailconfirmation that will be sent to you after registering.

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Stockholders of record on the Record Date, are entitled to notice of, andto vote at, the Meeting or any adjournment or postponement thereof. You arebeing asked to participate at the Meeting either virtually or by proxy. If youattend the Meeting, and are a stockholder of record as of the close of businesson the Record Date, you may vote your Shares at the Meeting. Regardless ofwhether you plan to attend the Meeting, please complete, date, sign and returnpromptly in the enclosed envelope the accompanying proxy. This is importantto ensure a quorum at the Meeting.

In addition to authorizing a proxy to vote by mail, you may also authorizea proxy to vote your Shares via the Internet or telephone, as follows:

To vote by the Internet:

(1) Read the Proxy Statement and have the enclosed proxy card athand.

(2) Go to the website that appears on the enclosed proxy card.

(3) Enter the control number set forth on the enclosed proxy card andfollow the simple instructions.

To vote by telephone:

(1) Read the Proxy Statement and have the enclosed proxy card athand.

(2) Refer to the toll-free number that appears on the enclosed proxycard.

(3) Follow the instructions.

We encourage you to authorize a proxy to vote your Shares via the Internetusing the control number that appears on your enclosed proxy card. Use ofInternet voting will reduce the time and costs associated with this proxysolicitation. Whichever method you choose, please read the enclosed ProxyStatement carefully before you vote. If you should have any questions about thisNotice or the proxy materials, we encourage you to call us at (855) 777-8001.

By Order of the Board of Directors,

/s/ Thomas D. Peeney

Thomas D. PeeneySecretary

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IMPORTANT NOTICE REGARDING THE AVAILABILITY OFPROXY MATERIALS FOR THE ANNUAL MEETING OF

STOCKHOLDERS TO BE HELD ON JUNE 18, 2020

The Fund’s Notice of 2020 Annual Meeting of Stockholders, ProxyStatement and Form of Proxy are available on the Internet athttps://publicsecurities.brookfield.com/en.

WE NEED YOUR PROXY VOTE IMMEDIATELY.

YOU MAY THINK YOUR VOTE IS NOT IMPORTANT, BUT IT ISVITAL. AT THE MEETING OF STOCKHOLDERS, THE FUND WILLBE UNABLE TO CONDUCT ANY BUSINESS IF LESS THAN AMAJORITY OF THE VOTES ENTITLED TO BE CAST AREREPRESENTED. IN THAT EVENT, THE MEETING MAY BEADJOURNED AND THE FUND, AT THE STOCKHOLDERS’EXPENSE, WOULD CONTINUE TO SOLICIT VOTES IN ANATTEMPT TO ACHIEVE A QUORUM. CLEARLY, YOUR VOTECOULD BE CRITICAL TO ENABLE THE FUND TO HOLD THEMEETING AS SCHEDULED, SO PLEASE RETURN YOUR PROXYCARD IMMEDIATELY. YOU AND ALL OTHER STOCKHOLDERSWILL BENEFIT FROM YOUR COOPERATION.

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Instructions for Signing Proxy Cards

The following general rules for signing proxy cards may be of assistanceto you and avoid the time and expense involved in validating your vote if youfail to sign your proxy card properly.

1. Individual Accounts. Sign your name exactly as it appears in theregistration on the proxy card.

2. Joint Accounts. Either party may sign, but the name of the partysigning should conform exactly to the name shown in the registration.

3. All Other Accounts. The capacity of the individual signing the proxycard should be indicated unless it is reflected in the form of registration. Forexample:

Registration Valid Signature

Corporate Accounts

(1) ABC Corp. ABC Corp. (by John Doe, Treasurer)

(2) ABC Corp. John Doe, Treasurer(3) ABC Corp. c/o John Doe, Treasurer John Doe(4) ABC Corp. Profit Sharing Plan John Doe, Director

Trust Accounts

(1) ABC Trust Jane B. Doe, Director(2) Jane B. Doe, Director u/t/d 12/28/78 Jane B. Doe

Custodial or Estate Accounts

(1) John B. Smith, Cust. John B. Smith f/b/o John B. Smith, Jr. UGMA

(2) John B. Smith John B. Smith, Jr., Executor

YOUR VOTE IS IMPORTANT. PLEASE AUTHORIZE A PROXY TOVOTE YOUR SHARES PROMPTLY, NO MATTER HOW MANY

SHARES YOU OWN.

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BROOKFIELD REAL ASSETS INCOME FUND INC.Brookfield Place, 250 Vesey StreetNew York, New York 10281-1023

PROXY STATEMENT

This Proxy Statement is furnished to stockholders in connection with asolicitation by the Board of Directors (the “Board”) of Brookfield Real AssetsIncome Fund Inc., a Maryland corporation (the “Fund”), of proxies to beexercised at the 2020 Annual Meeting of Stockholders (the “Meeting”) of theFund to be held on Thursday, June 18, 2020 at 8:30 a.m., Eastern Time (and atany adjournment or postponements thereof) for the purposes set forth in theaccompanying Notice of Annual Meeting of Stockholders. This Proxy Statementand the accompanying proxy card are first being sent to stockholders on orabout May 8, 2020.

Due to the public health impact of the coronavirus pandemic (COVID-19),and to support the health and well-being of Fund stockholders, the Meetingwill be held solely on the internet by virtual means. You will not be able toattend the Meeting in person.

The persons named as proxy holders on the proxy card will vote inaccordance with your instructions and, unless specified to the contrary, willvote “FOR” the election of the Class I Director nominees. The close of businesson April 13, 2020, has been fixed as the record date (the “Record Date”) forthe determination of stockholders entitled to receive notice of, and to vote at,the Meeting. Each outstanding full share of common stock of the Fund isentitled to one vote for as many individuals as there are directors to be electedat the Meeting, and one vote for each other matter properly presented at theMeeting. Votes may not be cumulated. The number of outstanding shares ofcommon stock of the Fund as of the Record Date is 44,892,533.

Under the Bylaws of the Fund, the presence in person or by proxy ofstockholders entitled to cast a majority of all the votes entitled to be castconstitutes a quorum. In the event that a quorum is not present at the Meetingor otherwise, the chairman of the Meeting has the power to adjourn the Meetingfrom time to time, to a date not more than 120 days after the Record Datewithout notice other than announcement at the Meeting.

For purposes of determining the presence of a quorum for transactingbusiness at the Meeting, abstentions and broker “non-votes” (that is, proxiesfrom brokers or nominees indicating that such persons have not receivedinstructions from the beneficial owner or other persons entitled to vote Shareson a particular matter with respect to which the brokers or nominees do nothave discretionary power), if any, will be treated as Shares that are present forquorum purposes but not “entitled to vote.” Abstentions will have the sameeffect as votes against Proposal 1. Broker “non-votes” will have no effect on

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the outcome of the vote on Proposal 1. Since banks and brokers will havediscretionary authority to vote Shares in the absence of voting instructions fromstockholders with respect to Proposal 1, we expect that there will be no broker“non-votes.”

Stockholders who execute proxies retain the right to revoke them by:(a) written notice received by the Secretary of the Fund at any time before thatproxy is exercised; (b) signing a proxy bearing a later date or; (c) attending theMeeting and voting in person (attendance at the Meeting will not, by itself,revoke a properly executed proxy). If you hold your Shares in “street name”(that is, through a broker or other nominee), you should instruct your broker ornominee how to vote your Shares by following the voting instructions providedby your broker or nominee.

In order to participate in and vote your Shares at the Meeting, stockholdersas of the Record Date need to register for the Meeting.

If you are a registered holder, you must:

• Register via email to [email protected] by 11:59 p.m. EasternTime on June 17, 2020. You will need to the control number foundon your proxy card as part of the registration process.

If your Shares are registered in the name of your broker, bank or other agent,you are the “beneficial owner” of those Shares and those Shares are consideredas held in “street name.” If your Shares are held in a “street name,” you must:

• Obtain a legal proxy from your broker, bank, or other nominee.

• Submit proof of your legal proxy reflecting the number of Sharesyou own along with your name and email address to American StockTransfer & Trust Company, LLC (“AST”), the Fund’s proxy solicitor.Requests for registration should be directed [email protected] or via facsimile at 718-765-8730. Writtenrequests can be mailed to: American Stock Transfer & Trust CompanyLLC, Attn: Proxy Tabulation Department, 6201 15th Avenue,Brooklyn, NY 11219. Requests for registration must be labeled as“Legal Proxy” and be received by AST no later than 5:00 p.m.,Eastern Time, on June 11, 2020.

You will receive a confirmation of your registration by email after ASTreceives your registration materials. If you wish to vote your Shareselectronically at the Meeting, please follow the instructions provided by ASTin its confirmation email. On the day of the Meeting, if you have properlyregistered, you may enter the Meeting virtually athttps://web.lumiagm.com/274390912. To join the Meeting, please enter thepassword, brook2020. We encourage you to access the Meeting prior to thestart time leaving ample time to check in.

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Stockholders may request copies of the Fund’s most recent annualreport, including the financial statements, without charge, by writing toInvestor Relations, Brookfield Real Assets Income Fund Inc., BrookfieldPlace, 250 Vesey Street, 15th Floor, New York, New York 10281-1023. Thesereports also are available on the Fund’s website athttps://publicsecurities.brookfield.com/en. These documents have been filedwith the Securities and Exchange Commission and are available atwww.sec.gov.

PROPOSAL 1: ELECTION OF CLASS I DIRECTORS

The Board is divided into three classes: Class I, Class II and Class III. Theterms of office of the present Directors in each class expire at the AnnualMeeting in the year indicated and when their respective successors are electedand qualify: Class I, 2020, Class II, 2021 and Class III, 2022. Directors electedto succeed those whose terms are expiring will be identified as being of thatsame class and will be elected to serve until the third annual meeting after theirelection and until their successors are duly elected and qualify.

The persons named in the accompanying form of proxy intend to vote atthe Meeting (unless directed not to so vote) for the re-election of Mr. Louis P.Salvatore, a Class I Independent Director nominee, and Mr. David Levi, aClass I Interested Director nominee. Messrs. Salvatore and Levi have indicatedthat they will serve if elected, but if they should be unable to serve, the proxyor proxies will be voted for any other persons determined by the persons namedin the proxy in accordance with their discretion. If elected, Messrs. Salvatoreand Levi will serve until the 2023 annual meeting of stockholders and untiltheir respective successors are duly elected and qualify.

The Fund’s Board has determined that Mr. Louis P. Salvatore, as well asMs. Heather S. Goldman, and Messrs. Edward A. Kuczmarski and Stuart A.McFarland are each independent under the criteria for independence set forthin the listing standards of the New York Stock Exchange. Mr. David Levi isconsidered an Interested Director. Therefore, upon election of the Class IDirector nominees by the Fund, the Fund will continue to meet the requirementsof the New York Stock Exchange that a majority of directors be independent.

As described above, there are two nominees for election to the Board atthis time. The affirmative vote of a majority of the votes entitled to be cast atthe Meeting, if a quorum is present, is sufficient to elect a director.

The Board of Directors recommends that the stockholders vote “FOR”the election of each of the nominees listed above to serve as Directors untilthe Annual Meeting of Stockholders in 2023 and until their respectivesuccessors are duly elected and qualify.

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Information Concerning Nominee and Directors

The following table provides information concerning each of the Directorsand the Class I Director nominees of the Board, as of the date of this ProxyStatement. The nominees are listed in the table under “Class I IndependentDirector Nominee” and “Class I Interested Director Nominee.” The terms ofthe Class II and the Class III Directors do not expire this year. The Fund has aretirement policy, which sets a mandatory retirement age of 77 for the Directors.

Position(s) Number of Held with Fund, Principal Occupation(s) Portfolios in Length of During Past 5 Years and Fund Complex Name, Address Time Served and Other Directorships Overseen and Year of Birth Term of Office Held by Director by Director*

Class I Independent Director Nominee – If Elected, Term Expires at the 2023Annual Meeting of Stockholders

Louis P. Salvatorec/o BrookfieldPlace,250 Vesey Street,New York, NewYork 10281-1023

Born: 1946

Director, Chairmanof the AuditCommittee, Memberof the Nominatingand CompensationCommittee

Served sinceinception1

Three Year Term

Director/Trustee ofseveral investmentcompanies advised by theAdviser (2005-Present);Director of SP FiberTechnologies, Inc.(2012-2015); Director ofGramercy Property Trust(formerly, ChambersStreet Properties) (2012-2018); Director of TurnerCorp. (2003-Present);Employee of ArthurAndersen LLP (2002-Present); Principal ofTrimblestone InvestmentCo. (2019-Present).

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Class I Interested Director Nominee – If Elected, Term Expires at the 2023Annual Meeting of Stockholders

Class II Independent Director – Term Expires at the 2021 Annual Meeting ofStockholders

David Levi**c/o BrookfieldPlace,250 Vesey Street,New York, NewYork 10281-1023

Born: 1971

Director

Served sinceApril 2017

Three Year Term

Director/Trustee ofseveral investmentcompanies advised by theAdviser (2017-Present);Chief Executive Officer ofthe Adviser (2019-Present); President of theAdviser (2016-2019);Managing Director andHead of Distribution ofthe Adviser (2014-2016);Managing Partner ofBrookfield AssetManagement Inc. (2015-Present).

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Heather S.Goldmanc/o BrookfieldPlace,250 Vesey Street,New York, NewYork 10281-1023

Born: 1967

Director, Member ofthe Audit Committee,Member of theNominating andCompensationCommittee


Three Year Term

Director/Trustee of severalinvestment companiesadvised by the Adviser(2013-Present); BoardDirector of Gesher USA(2015-Present); Trustee ofNevada Museum of Art(2016-2018); Member ofthe Honorary Board ofUniversity SettlementHouse (2014-Present); Co-founder and CEO ofCapstak, Inc. (2014-2018);Chairman of Capstak, Inc.(2016-2018).

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5




Class III Independent Directors – Terms Expire at the 2022 Annual Meeting ofStockholders

Edward A.Kuczmarskic/o BrookfieldPlace,250 Vesey Street,New York, NewYork 10281-1023

Born: 1949

Director, Chairmanof the Board, Memberof the AuditCommittee,Chairman of theNominating andCompensationCommittee


Three Year Term

Director/Trustee of severalinvestment companiesadvised by BrookfieldPublic Securities GroupLLC (the “Adviser”)(2011-Present); Director ofISI Funds (2007-2015);Trustee of the DailyIncome Fund (2006-2015);Director of the CaliforniaDaily Tax Free IncomeFund, Inc. (2006-2015);Trustee of the StralemFunds (2014-2016).

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* The Fund Complex is comprised of the Fund, Brookfield Investment Funds (7 series of underlying portfolios) and Center Coast Brookfield MLP & Energy Infrastructure Fund.

** Designates individuals who are “interested persons” of the Fund, as defined by the InvestmentCompany Act of 1940, as amended (the “1940 Act”), because of affiliations with the Adviser.

1 Brookfield Real Assets Income Fund Inc. was established on May 12, 2016 and commencedoperations on December 5, 2016.

Stuart A.McFarlandc/o BrookfieldPlace,250 Vesey Street,New York, NewYork 10281-1023

Born: 1947

Director, Member ofthe Audit Committee,Member of theNominating andCompensationCommittee


Three Year Term

Director/Trustee ofseveral investmentcompanies advised by theAdviser (2006-Present);Director of UnitedGuaranty Corporation(2011-2016); Director ofDrive Shack Inc.(formerly, New CastleInvestment Corp.) (2000-Present); ManagingPartner of Federal CityCapital Advisors (1997-Present); Director of NewAmerica High IncomeFund (2013-Present);Director of New SeniorInvestment Group, Inc.(2014-Present); Directorof Steward Partners(2017-Present).

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Officers of the Funds

The officers of the Fund are elected by the Board either at its annualmeeting, or at any subsequent regular or special meeting of the Board. TheBoard of the Fund has appointed six officers, each to hold office at thediscretion of the Board until his or her successor is elected and qualifies oruntil his or her resignation or removal. Except where dates of service are noted,all officers listed below served the Fund as such throughout the fiscal yearended December 31, 2019. The following table sets forth informationconcerning each officer of the Fund as of the date of this Proxy Statement:

Position(s) Name, Address Held with Length of Principal Occupation(s)and Year of Birth Fund Time Served During Past 5 Years

Brian F. Hurley*c/o Brookfield Place,250 Vesey Street,New York, New York10281-1023

Born: 1977

President Served sinceinception1

President of several investmentcompanies advised by theAdviser (2014-Present);Managing Director (2014-Present), Assistant GeneralCounsel (2010-2017) andGeneral Counsel (2017-Present)of the Adviser; ManagingPartner of Brookfield AssetManagement Inc. (2016-Present); Director of BrookfieldSoundvest Capital Management(2015-2018).

Angela W. Ghantous*c/o Brookfield Place,250 Vesey Street,New York, New York10281-1023

Born: 1975

Treasurer Served sinceinception1

Treasurer of several investmentcompanies advised by theAdviser (2012-Present);Director and Head of FundAdministration and Accountingof the Adviser (2012-Present).

Thomas D. Peeney*c/o Brookfield Place,250 Vesey Street,New York, New York10281-1023

Born: 1973

Secretary Served since2018

Secretary of several investmentcompanies advised by theAdviser (2018-Present); Directorof the Adviser (2018-Present);Vice President of the Adviser(2017-2018); Vice President andAssistant General Counsel ofSunAmerica Asset Management,LLC (2013-2017).

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Position(s) Name, Address Held with Length of Principal Occupation(s)and Year of Birth Fund Time Served During Past 5 Years

* Designates individuals who are “interested persons” of the Fund, as defined by the 1940 Act,because of affiliations with the Adviser.

1 Brookfield Real Assets Income Fund Inc. was established on May 12, 2016 and commencedoperations on December 5, 2016.

Adam R. Sachs*c/o Brookfield Place,250 Vesey Street,New York, New York10281-1023

Born: 1984

ChiefComplianceOfficer(“CCO”)

Served since2017

Chief Compliance Officer ofseveral investment companiesadvised by the Adviser (2017-Present); Director of Adviser(2017-Present); SeniorCompliance Officer ofCorporate Legal andCompliance at the Adviser(2011-2017).

Casey Tushaus*c/o Brookfield Place,250 Vesey Street,New York, New York10281-1023

Born: 1982

AssistantTreasurer

Served since2016

Assistant Treasurer of severalinvestment companies advisedby the Adviser (2016-Present);Vice President of the Adviser(2014-Present).

Mohamed Rasul*c/o Brookfield Place,250 Vesey Street,New York, New York10281-1023

Born: 1981

AssistantTreasurer

Served since2016

Assistant Treasurer of severalinvestment companies advisedby the Adviser (2016-Present);Assistant Vice President of theAdviser (2014-2019).

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Share Ownership

As of the Record Date, the Director nominees, Directors and officers ofthe Fund beneficially owned individually and collectively as a group less than1% of the outstanding shares of the Fund.

The following table sets forth the aggregate dollar range of equitysecurities owned by each Director of the Fund and of all funds overseen byeach Director in the Adviser’s family of investment companies (the “FundComplex”) as of December 31, 2019. The Fund Complex is comprised of theFund, Center Coast Brookfield MLP & Energy Infrastructure Fund andBrookfield Investment Funds and its seven series of underlying portfolios:Brookfield Global Listed Real Estate Fund, Brookfield Global ListedInfrastructure Fund, Brookfield U.S. Listed Real Estate Fund, Brookfield RealAssets Securities Fund, Center Coast Brookfield Midstream Focus Fund, CenterCoast Brookfield Energy Infrastructure Fund* and Brookfield Real Assets DebtFund.* The cost of each Director’s investment in the Fund Complex may varyfrom the current dollar range of equity securities shown below, which iscalculated on a market value basis as of December 31, 2019. The informationas to beneficial ownership is based on statements furnished to the Fund by eachDirector.

Aggregate Dollar Range of Equity Securities Dollar Range of Held in the Family Name of Equity Securities of Investment Nominees/Directors Held in the Fund1 Companies1

Independent Director Nominee

Louis P. Salvatore E E

Interested Director Nominee

David Levi A A

Independent Directors

Heather S. Goldman A E

Edward A. Kuczmarski C E

Stuart A. McFarland E E

* As of the date of this Proxy Statement, shares of the Center Coast Brookfield Energy Infrastructure Fund and the Brookfield Real Assets Debt Fund are not publicly offered.

1 Key to Dollar Ranges:A. NoneB. $1 – $10,000C. $10,001 – $50,000D. $50,001 – $100,000E. Over $100,000

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Information Regarding the Board and its Committees

The Role of the Board

The business and affairs of the Fund are managed under the direction ofthe Board. The Board provides oversight of the management and operations ofthe Fund. As is the case with virtually all investment companies (asdistinguished from operating companies), the day-to-day management andoperation of the Fund is performed by various service providers to the Fund,such as the Fund’s investment adviser and administrator, the sub-administrator,custodian, and transfer agent. The Board approves all significant agreementsbetween the Fund and its service providers. The Board has elected senioremployees of the Adviser as officers of the Fund, with responsibility to monitorand report to the Board on the Fund’s day-to-day operations. In conducting thisoversight, the Board receives regular reports from these officers and serviceproviders regarding the Fund’s operations. For example, the Treasurer of theFund provides reports as to financial reporting matters, and investmentpersonnel of the Adviser report on the Fund’s investment activities andperformance. The Board has elected a Chief Compliance Officer whoadministers the Fund’s compliance program and regularly reports to the Boardas to compliance matters. Some of these reports are provided as part of formal“Board meetings,” which typically are held quarterly, in person, and involvethe Board’s review of recent Fund operations. From time to time, one or moremembers of the Board may also meet with management in less formal settings,between scheduled “Board meetings,” to discuss various topics. In all cases,however, the role of the Board and of any individual Director is one of oversightand not of management of the day-to-day affairs of the Fund and its oversightrole does not make the Board a guarantor of the Fund’s investments, operationsor activities.

Board Leadership Structure

The Fund’s Board has structured itself in a manner that it believes allowsit to perform its oversight function effectively. Currently, 80% of the membersof the Board, including the Chairman of the Board, are not “interested persons,”as defined in the 1940 Act, of the Fund (the “Independent Directors”), whichare Directors that are not affiliated with the Adviser or its affiliates. The Boardhas established three standing committees, an Audit Committee, a Nominatingand Compensation Committee, and a Qualified Legal Compliance Committee(the “QLCC”) (collectively, the “Committees”), which are discussed in greaterdetail below. The Audit Committee, Nominating and Compensation Committeeand QLCC are each comprised entirely of Independent Directors. Each of theIndependent Directors helps identify matters for consideration by the Boardand the Chairman has an active role in the agenda setting process for Boardmeetings. Mr. Kuczmarski, a Class III Director, serves as Chairman of theBoard. The Audit Committee Chairman also has an active role in the agendasetting process for the Audit Committee meetings. The Fund’s Board has

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adopted Fund Governance Policies and Procedures to ensure that the Board isproperly constituted in accordance with the 1940 Act and to set forth examplesof certain of the significant matters for consideration by the Board and/or itsCommittees in order to facilitate the Board’s oversight function. For example,although the 1940 Act requires that at least 40% of a fund’s directors not be“interested persons,” as defined in the 1940 Act, the Board has determined thatthe Independent Directors should constitute at least a majority of the Board.The Board has determined that its leadership structure is appropriate. Inaddition, the Board also has determined that the structure, function andcomposition of the Committees are appropriate means to provide effectiveoversight on behalf of Fund stockholders. The Independent Directors haveengaged their own independent counsel to advise them on matters relating totheir responsibilities to the Fund.

Board Oversight of Risk Management

As part of its oversight function, the Board receives and reviews variousrisk management reports and assessments and discusses these matters withappropriate management and other personnel of the Adviser. Because riskmanagement is a broad concept comprised of many elements, Board oversightof different types of risks is handled in different ways. For example, the fullBoard receives and reviews reports from senior personnel of the Adviser(including senior compliance, financial reporting and investment personnel) ortheir affiliates regarding various types of risks, including, but not limited to,operational, compliance, investment and business continuity risks, and howthey are being managed. From time to time, the full Board meets with the Fund’sChief Compliance Officer to discuss compliance risks relating to the Fund, theAdviser and the Fund’s other service providers. The Audit Committee supportsthe Board’s oversight of risk management in a variety of ways, includingmeeting regularly with the Fund’s Treasurer and with the Fund’s independentregistered public accounting firm and, when appropriate, with other personnelemployed by the Adviser to discuss, among other things, the internal controlstructure of the Fund’s financial reporting function and compliance with therequirements of the Sarbanes-Oxley Act of 2002. The Audit Committee alsomeets regularly with the Fund’s Chief Compliance Officer to discusscompliance and operational risks and receives reports from the Adviser’sinternal audit group as to these and other matters.

Information about Each Director’s Qualification, Experience, Attributesor Skills

The Board believes that each of the Directors, including the Class IDirector nominees, has the qualifications, experience, attributes and skills(“Director Attributes”) appropriate to serve as a Director of the Fund in lightof the Fund’s business and structure. Certain of these business and/orprofessional experiences are set forth in detail in the table above. The Directors

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have substantial board experience or other professional experience and havedemonstrated a commitment to discharging their oversight responsibilities asDirectors. The Board, with the assistance of the Nominating and CompensationCommittee, annually conducts a “self-assessment” wherein the performanceof the Board and the Committees are reviewed.

In addition to the information provided in the table above, below is certainadditional information regarding each Director, including the Class I Directornominees, and certain of their Director Attributes. Although the informationprovided below, and in the table above, is not all-inclusive, the informationdescribes some of the specific experiences, qualifications, attributes or skillsthat each Director possesses to demonstrate that the Directors have theappropriate Director Attributes to serve effectively as Directors of the Fund.Many Director Attributes involve intangible elements, such as intelligence,integrity and work ethic, the ability to work together, the ability to communicateeffectively, the ability to exercise judgment and ask incisive questions, andcommitment to stockholder interests. In conducting its self-assessment, theBoard has determined that the Directors have the appropriate attributes andexperience to serve effectively as Directors of the Fund.

• Edward A. Kuczmarski – In addition to his tenure as a Director of theFund, Mr. Kuczmarski has financial accounting experience as aCertified Public Accountant. He also has served on the board ofdirectors/trustees for several other investment managementcompanies. In serving on these boards, Mr. Kuczmarski has come tounderstand and appreciate the role of a director and has been exposedto many of the challenges facing a board and the appropriate ways ofdealing with those challenges. Mr. Kuczmarski serves as Chairmanof the Board of Directors, Chairman of the Nominating andCompensation Committee, and is a member of the Audit Committee.

• Stuart A. McFarland – In addition to his tenure as a Director of theFund, Mr. McFarland has extensive experience in executiveleadership, business development and operations, corporaterestructuring and corporate finance. He previously served in seniorexecutive management roles in the private sector, including servingas the Executive Vice President and Chief Financial Officer of FannieMae and as the Executive Vice President and General Manager ofGE Capital Mortgage Services, Corp. Mr. McFarland currently serveson the board of directors for various other investment managementcompanies and non-profit entities, and is the Managing Partner ofFederal City Capital Advisors. Mr. McFarland is a member of theAudit Committee and the Nominating and Compensation Committee.

• Heather S. Goldman – In addition to her tenure as a Director of theFund, Ms. Goldman has extensive experience in executive leadership,

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business development and marketing of investment vehicles similarto those managed by the Adviser. Ms. Goldman is a capital marketsfinancial services and tech executive, who over a twenty-plus yearcareer has worked in a senior capacity across a diverse array of firmsin the private equity, investment management and commercialbanking industries. She previously served as head of global marketingfor the Adviser, and as such has extensive knowledge of the Adviser,its operations and personnel. She also has experience working in otherroles for the parent company of the Adviser. Prior to working withthe Adviser, and for nearly five years, she acted as CEO andChairman, co-founding and managing Capital Thinking, a financialservices risk-management technology company in New York. Mostrecently, Ms. Goldman was Co-Founder and CEO of another fintechcompany, Capstak, Inc. She is a fintech angel investor. Ms. Goldmanis a member of the Audit Committee and the Nominating andCompensation Committee.

• Louis P. Salvatore – In addition to his tenure as a Director of theFund, Mr. Salvatore has extensive business experience in financialservices and financial reporting, including serving on the board ofdirectors/trustees and as audit committee chairman for several otherpublicly traded and private companies. Mr. Salvatore previously spentover thirty years in public accounting. He holds a MastersProfessional Director Certification from the American College ofCorporate Directors, a public company director educationorganization. Mr. Salvatore serves as Chairman of the AuditCommittee, and is a member of the Nominating and CompensationCommittee.

• David Levi – In addition to his tenure as a Director of the Fund,Mr. Levi is Chief Executive Officer of the Adviser and a ManagingPartner of Brookfield Asset Management Inc. He has over 25 yearsof industry experience in asset management. Mr. Levi’s backgroundincludes extensive strategy-related, client-facing and businessdevelopment experience globally within both the institutional andhigh net worth markets. Prior to joining the Adviser in 2014, Mr. Leviwas Managing Director and Head of Global Business Developmentat Nuveen Investments, after holding similar positions atAllianceBernstein Investments and Legg Mason and senior strategyroles within J.P. Morgan Asset Management. Mr. Levi is a Fellow ofthe 2019 class of the Aspen Finance Leaders Fellowship, is a memberof the Aspen Global Leadership Network, and holds the CharteredFinancial Analyst® designation. He earned a Master of BusinessAdministration degree from Columbia University and a Bachelor ofArts degree from Hamilton College. His position of responsibility at

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the Adviser, in addition to his knowledge of the firm and experiencein financial services, has been determined to be valuable to the Boardin its oversight of the Fund.

Nominating and Compensation Committee Considerations for IndependentDirectors

The Nominating and Compensation Committee evaluates candidates’qualifications for Board membership. When evaluating candidates, theNominating and Compensation Committee considers a number of attributesincluding leadership, independence, interpersonal skills, financial acumen,integrity and professional ethics, educational and professional background,prior director or executive experience, industry knowledge, business judgmentand specific experiences or expertise that would complement or benefit theBoard as a whole. The Nominating and Compensation Committee also mayconsider other factors/attributes as it may determine appropriate in its ownjudgment. The Nominating and Compensation Committee believes that thesignificance of each nominee’s background, experience, qualifications,attributes or skills must be considered in the context of the Board as a whole.As a result, the Nominating and Compensation Committee has not establisheda litmus test or quota relating to these matters that must be satisfied before anindividual may serve as a director. The Nominating and CompensationCommittee believes that board effectiveness is best evaluated at a group level,through the annual self-assessment process. Through this process, theNominating and Compensation Committee considers whether the Board as awhole has an appropriate level of sophistication, skill, and business acumenand the appropriate range of experience and background. The diversity of acandidate’s background or experiences, when considered in comparison to thebackground and experiences of other members of the Board, may or may notimpact the Nominating and Compensation Committee’s view as to thecandidate. In evaluating these matters, the Nominating and CompensationCommittee typically considers the following minimum criteria:

• With respect to nominations for Independent Directors, nomineesshall be independent of the Adviser and other principal serviceproviders. The Nominating and Compensation Committee of the Fundshall also consider the effect of any relationship beyond thosedelineated in the 1940 Act that might impair independence, such asbusiness, financial or family relationships with the investment adviseror its affiliates.

• Independent Director nominees must qualify for service on the Fund’sAudit Committee under the rules of the New York Stock Exchange(including financial literacy requirements) or of another applicablesecurities exchange.

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• With respect to all Directors, a proposed nominee must qualify underall applicable laws and regulations.

• The Nominating and Compensation Committee of the Fund also mayconsider such other factors as it may determine to be relevant.

Board Meetings

During the Fund’s fiscal year ended December 31, 2019, the Board heldfour regular meetings, and each Director attended at least 75% of the meetingsof the Fund’s Board of Directors and of the Committees on which he or sheserved. The Chairman of the Board of Directors, who is elected by theIndependent Directors, will preside at each executive session of the Board, orif one has not been designated, the chairperson of the Nominating andCompensation Committee shall serve as such.

Audit Committee

The Fund has a standing Audit Committee that was established inaccordance with Section 3(a)(58)(A) of the Securities Exchange Act of 1934,as amended (the “Exchange Act”), which currently consists ofMessrs. Salvatore, Kuczmarski and McFarland and Ms. Goldman, all of whomare Independent Directors. The principal functions of the Audit Committee areto review the Fund’s audited financial statements, to select the Fund’sindependent auditors, to review with the Fund’s auditors the scope andanticipated costs of their audit and to receive and consider a report from theauditors concerning their conduct of the audit, including any comments orrecommendations they might want to make in connection therewith. Duringthe Fund’s fiscal year ended December 31, 2019, the Audit Committee heldfour Committee meetings. Mr. Salvatore serves as Chairman of the AuditCommittee, and the Board has determined that Messrs. Salvatore, McFarlandand Kuczmarski each qualify and are designated as an “audit committeefinancial expert,” as defined in Item 401(h) of Regulation S-K promulgated bythe Securities and Exchange Commission.

The Fund’s Board of Directors has adopted a written charter for its AuditCommittee, which is available on the Fund’s website athttps://publicsecurities.brookfield.com/en. A copy of the Fund’s AuditCommittee Charter is also available free of charge, upon request directed toInvestor Relations, Brookfield Real Assets Income Fund Inc., Brookfield Place,250 Vesey Street, 15th Floor, New York, New York 10281-1023.

Nominating and Compensation Committee

The Fund has a Nominating and Compensation Committee, whichcurrently consists of Messrs. Kuczmarski, McFarland and Salvatore andMs. Goldman, all of whom are Independent Directors and independent asindependence is defined in New York Stock Exchange, Inc.’s listing standards.

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The Nominating and Compensation Committee of the Fund met two timesduring the Fund’s fiscal year ended December 31, 2019. Mr. Kuczmarski servesas Chairman of the Nominating and Compensation Committee. The functionof the Fund’s Nominating and Compensation Committee is to recommendcandidates for election to its Board as Independent Directors. The Fund’sNominating and Compensation Committee evaluates each candidate’squalifications for Board membership and their independence from the Adviserand other principal service providers.

The Nominating and Compensation Committee will consider nomineesrecommended by stockholders who, separately or as a group, own at least onepercent of the Fund’s shares. For a list of the minimum criteria used by theNominating and Compensation Committee to assess a candidate’squalifications, please see “Nominating and Compensation CommitteeConsiderations for Independent Directors” above.

When identifying and evaluating prospective nominees, the Nominatingand Compensation Committee reviews all recommendations in the samemanner, including those received by stockholders. The Nominating andCompensation Committee first determines if the prospective nominee(s) meetsthe minimum qualifications set forth above. Those proposed nominees meetingthe minimum qualifications as set forth above are then to be considered by theNominating and Compensation Committee with respect to any otherqualifications deemed to be important. Those proposed nominees meeting theminimum and other qualifications and determined by the Nominating andCompensation Committee as suitable are nominated for election by theCommittee.

Stockholder recommendations should be addressed to the Nominating andCompensation Committee in care of the Secretary of the Fund and sent toBrookfield Place, 250 Vesey Street, 15th Floor, New York, New York10281-1023. Stockholder recommendations should include biographicalinformation, including business experience for the past nine years and adescription of the qualifications of the proposed nominee, along with astatement from the nominee that he or she is willing to serve and meets therequirements to be an Independent Director, if applicable. The Fund’sNominating and Compensation Committee also determines the compensationpaid to the Independent Directors. The Board has adopted a written charter forits Nominating and Compensation Committee, which is available on the Fund’swebsite at https://publicsecurities.brookfield.com/en. A copy of the Fund’sNominating and Compensation Committee Charter is also available free ofcharge, upon request directed to Investor Relations, Brookfield Real AssetsIncome Fund Inc., Brookfield Place, 250 Vesey Street, 15th Floor, New York,New York 10281-1023.

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The Fund’s Nominating and Compensation Committee has recommendedMessrs. Salvatore and Levi as nominees for election and the Fund’s Board ofDirectors has nominated Messrs. Salvatore and Levi to serve as the Class IDirectors.

Qualified Legal Compliance Committee

The Fund has a standing Qualified Legal Compliance Committee(“QLCC”). The QLCC was formed for the purpose of compliance withRules 205.2(k) and 205.3(c) of the Code of Federal Regulations, regardingalternative reporting procedures for attorneys retained or employed by an issuerwho appear and practice before the Securities and Exchange Commission onbehalf of the issuer (the “issuer attorneys”). An issuer attorney who becomesaware of evidence of a material violation by the Fund, or by any officer,Director, employee, or agent of the Fund, may report evidence of such materialviolation to the QLCC as an alternative to the reporting requirements ofRule 205.3(b) (which requires reporting to the chief legal officer and potentially“up the ladder” to other entities). The QLCC meets as needed. During the fiscalyear ended December 31, 2019, the Fund’s QLCC did not meet. The QLCCcurrently consists of Messrs. Kuczmarski, McFarland and Salvatore andMs. Goldman.

Code of Ethics

Code of Ethics. The Fund has adopted a code of ethics that applies to allof its Directors and officers and any employees of the Fund’s external manageror its affiliates who are involved in the Fund’s business and affairs. This codeof ethics is designed to comply with Securities and Exchange Commissionregulations and New York Stock Exchange listing standards related to codes ofconduct and ethics and is available on the Fund’s website athttps://publicsecurities.brookfield.com/en. A copy of the Fund’s code of ethicsalso is available free of charge, upon request directed to Investor Relations,Brookfield Real Assets Income Fund Inc., Brookfield Place, 250 Vesey Street,15th Floor, New York, New York 10281-1023.

There is no family relationship between any of the Fund’s current officersor Directors. There are no orders, judgments, or decrees of any governmentalagency or administrator, or of any court of competent jurisdiction, revoking orsuspending for cause any license, permit or other authority to engage in thesecurities business or in the sale of a particular security or temporarily orpermanently restraining any of the Fund’s officers or Directors from engagingin or continuing any conduct, practice or employment in connection with thepurchase or sale of securities, or convicting such person of any felony ormisdemeanor involving a security, or any aspect of the securities business or oftheft or of any felony, nor are any of the officers or Directors of any corporationor entity affiliated with the Fund so enjoined.

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Compensation of Directors and Executive Officers

No remuneration was paid by the Fund to persons who were directors,officers or employees of the Adviser or any affiliate thereof for their servicesas Directors or officers of the Fund. Each Director of the Fund, other than thosewho are officers or employees of the Adviser or any affiliate thereof, wasentitled to receive from the Fund a Fund Complex fee. Effective June 1, 2018,the aggregate annual retainer paid to each Independent Director of the Boardfor the Fund Complex is $180,000. The Independent Chairman of the FundComplex and the Chairman of the Audit Committee each receive an additionalpayment of $30,000 per year. The following table sets forth informationconcerning the compensation received by Directors for the fiscal year endedDecember 31, 2019 for the Fund, which we refer to as fiscal 2019.

Total Directors’ Directors’ Compensation Aggregate from the Fund Compensation and the from the Fund Fund Complex

Independent Director NomineeLouis P. Salvatore $42,206 $210,000

Interested Director NomineeDavid Levi N/A N/A

Independent DirectorsEdward A. Kuczmarski $42,206 $210,000

Stuart A. McFarland $36,177 $180,000

Heather S. Goldman $36,177 $180,000

Stockholder Communications with Board of Directors and BoardAttendance at Annual Meetings

The Fund’s Board of Directors provides a process for stockholders to sendcommunications to the Board. Any stockholder who wishes to send acommunication to the Board of Directors of the Fund should send thecommunication to the attention of the Fund’s Secretary at Brookfield Place,250 Vesey Street, 15th Floor, New York, New York 10281-1023. If a stockholderwishes to send a communication directly to an individual Director or to aCommittee of the Fund’s Board of Directors, then the communication shouldbe specifically addressed to such individual Director or Committee and sent incare of the Fund’s Secretary at the same address. All communications will beimmediately forwarded to the appropriate individual(s).

The Fund’s policy with respect to Directors’ attendance at annual meetingsof stockholders is to encourage such attendance.

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Audit Committee Report

On February 19, 2020, the Audit Committee of the Board of Directors ofthe Fund reviewed and discussed with management the Fund’s audited financialstatements as of and for the fiscal year ended December 31, 2019. The AuditCommittee discussed with Deloitte & Touche LLP (“Deloitte”), the Fund’sindependent registered public accounting firm, the matters required to bediscussed by Rule 3526, Ethics and Independence, Communication with AuditCommittee Concerning Independence.

The Audit Committee received and reviewed the written disclosures andthe letter from Deloitte required by Rule 3520, Auditor Independence, anddiscussed with Deloitte, its independence.

Based on the reviews and discussions referred to above, the AuditCommittee recommended to the Board of Directors that the audited financialstatements referred to above be included in the Fund’s Annual Report toStockholders, as required by Section 30(e) of the Investment Company Act of1940, as amended, and Rule 30d-1 promulgated thereunder, for the fiscal yearended December 31, 2019.

Louis P. Salvatore – Audit Committee ChairmanEdward A. Kuczmarski – Audit Committee MemberStuart A. McFarland – Audit Committee MemberHeather S. Goldman – Audit Committee Member

Required Vote

The election of the listed nominees for Director requires the approval of amajority of all the votes entitled to be cast at the Meeting, in person or by proxy,at which a quorum is present. The Board of Directors of the Fundrecommends a vote “FOR” the election of the nominees to the Fund’sBoard of Directors.

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GENERAL INFORMATION

MANAGEMENT AND SERVICE PROVIDERS

The Adviser/The Sub-Adviser

Brookfield Public Securities Group LLC (the “Adviser” or “PSG”), aDelaware limited liability company and a registered investment adviser underthe Investment Advisers Act of 1940, as amended, serves as the investmentadviser and administrator to the Fund. Founded in 1989, the Adviser is a wholly-owned subsidiary of Brookfield Asset Management Inc. (TSX/NYSE: BAM;EURONEXT: BAMA) (“Brookfield”), a publicly held global asset managerfocused on property, power and other infrastructure assets with over $540 billionof assets under management as of December 31, 2019. In addition to the Fund,the Adviser’s clients include financial institutions, public and private pensionplans, insurance companies, endowments and foundations, sovereign wealthfunds, high net-worth investors and several other registered investmentcompanies. The Adviser specializes in global listed real assets strategies andits investment philosophy incorporates a value-based approach towardsinvestment. The business address of the Adviser and its officers and directors isBrookfield Place, 250 Vesey Street, 15th Floor, New York, New York 10281-1023.Subject to the authority and oversight of the Board of Directors, the Adviser isresponsible for the overall management of the Fund’s business affairs. As ofMarch 31, 2020, the Adviser and its subsidiaries had over $14 billion in assetsunder management.

The Fund has also entered a Sub-Advisory Agreement with SchroderInvestment Management North America Inc. (“SIMNA”), a Delawarecorporation and a registered investment adviser under the Investment AdvisersAct of 1940, as amended. SIMNA is located at 7 Bryant Park, New York,NY 10018, and is wholly-owned by Schroder US Holdings Inc. at the sameaddress and indirectly owned in its entirety by Schroders plc, a London StockExchange-listed financial services company, located at 31 Gresham Street,London EC2V 7QA, England. As of December 31, 2019, Schroders plc hadapproximately $662.6 billion under management. Of that amount, as ofDecember 31, 2019 SIMNA (along with its affiliated entity SchroderInvestment Management North America Ltd.) had approximately $112.3 billionunder management.

Mr. David Levi, a Class I Interested Director nominee, is the President ofthe Adviser, and may be entitled, in addition to receiving a salary from theAdviser, to receive a bonus based upon a portion of the Adviser’s profits.Mr. Brian F. Hurley, the President of the Fund, Mr. Thomas D. Peeney, theSecretary of the Fund, Mr. Adam Sachs, the CCO of the Fund, Ms. Angela W.Ghantous, the Treasurer of the Fund, and Messrs. Casey Tushaus and MohamedRasul, Assistant Treasurers of the Fund, all are employees of the Adviser.

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Toppan Merrill - Brookfield Real Assets Income Fund Inc. [RA] Proxy Statements [Funds] 04-30-2020 ED [AUX] | rwaldoc | 08-May-20 16:18 | 20-16042-2.da | Sequence: 1CHKSUM Content: 54718 Layout: 28775 Graphics: 0 CLEAN


PSG serves as the investment adviser of the Fund while SIMNA serves asthe sub-adviser with respect to the securitized products allocation of the Fund.As investment adviser, PSG manages the Fund’s investments outside ofsecuritized products and has oversight responsibilities over the securitizedproducts allocation managed by SIMNA. More particularly, Mr. Craig Noble,CFA, and Mr. Larry Antonatos are jointly and primarily responsible for theday-to-day management of the Fund, including the authority to adjust thestrategic allocation of assets between corporate credit, securitized credit andequity securities. In addition, Mr. Dana Erikson, CFA, and Mr. Dan Parker,CFA, are jointly and primarily responsible for the day-to-day management ofthe Fund’s corporate credit sleeve. In managing the corporate credit, securitizedcredit and equity investment sleeves of the Fund, Messrs. Noble and Antonatosleverage the expertise of their colleagues on Brookfield’s investment teams, aswell as the securitized credit investment team at SIMNA.

Craig Noble has over 20 years of experience and is a Managing Partnerand Chief Executive Officer of Alternative Investments for Brookfield AssetManagement Inc. In this role, he is responsible for Brookfield’s assetmanagement business, consisting of the sourcing and management of third-party capital across Brookfield’s investment platforms. Since joining Brookfieldin 2004, Craig has held a variety of senior roles, including Chief ExecutiveOfficer of PSG and various investment roles in the private and public markets.Prior to Brookfield, Craig spent five years with the Bank of Montreal, focusedon credit analysis, corporate lending and corporate finance. He earned a Masterof Business Administration degree from York University and a Bachelor ofCommerce degree from Mount Allison University and holds the CharteredFinancial Analyst® designation. He has served as Co-Portfolio Manager of theFund since its inception.

Larry Antonatos has 29 years of industry experience and is a PortfolioManager for PSG’s Real Asset Solutions team. In this role he oversees theportfolio construction process, including execution of asset allocation. Larryjoined Brookfield in 2011 as Product Manager for the firm’s equity investmentstrategies. Prior to joining Brookfield, he was a portfolio manager for a U.S.REIT strategy for 10 years. He also has investment experience with directproperty, CMBS, and mortgage loans. Larry earned a Master of BusinessAdministration degree from the Wharton School of the University ofPennsylvania and a Bachelor of Engineering degree from Vanderbilt University.He has served as Co-Portfolio Manager of the Fund since its inception.

Dana Erikson has over 30 years of industry experience and is a PortfolioManager and Head of PSG’s Global Credit team. He oversees and contributesto the portfolio construction process, including execution of buy/sell decisions.Prior to joining the firm in 2006, he was with Evergreen Investments or one ofits predecessor firms since 1996 where he held a number of positions, includingSenior Portfolio Manager, Head of the High Yield team and Head of High Yield

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Research. Dana holds the Chartered Financial Analyst® designation and is amember of the CFA Society Boston, Inc. He earned a Master of BusinessAdministration degree, with honors, from Northeastern University and aBachelor of Arts degree in Economics from Brown University. He has servedas Co-Portfolio Manager of the Fund since its inception.

Dan Parker has over 20 years of industry experience and is a PortfolioManager and Director on PSG’s Global Credit team. In addition, Mr. Parkersupports the Global Infrastructure Equities team with a focus on utilities. Priorto joining the firm in 2006, Mr. Parker spent four years at Standard & Poor’swhere he covered the utilities and natural resources sectors. He started his careerin international trade finance as a credit analyst at Canada’s Export CreditAgency, EDC. Mr. Parker holds the Chartered Financial Analyst® designationand is a member of the CFA Society Chicago, Inc. He earned an HonorsBachelor of Commerce degree from Lakehead University. He has served as aCo-Portfolio Manager of the Fund since 2018.

Michelle Russell-Dowe, Head of Securitized Credit at SIMNA, isresponsible for managing the Securitized Credit Team and the Securitized CreditPortfolio Strategies. She joined SIMNA in 2016 and is based in New York.Ms. Russell-Dowe was the Head of Securitized Products at Brookfield from1999 to 2016 where she was responsible for managing the Securitized ProductsInvestment Team. She was the Lead Portfolio Manager responsible for theSecuritized Investment Strategies. She was a Vice President at Duff & PhelpsCredit Rating Co from 1994 to 1999, where she was responsible for ratingsecurities including residential mortgage-backed securities and asset-backedsecurities. Previously, Ms. Russell-Dowe was Co-Head of the InvestorCommittee of the American Securitization Forum (ASF). She holds an MBAin Finance (Valedictorian) from Columbia Graduate School of Business and aBA in economics from Princeton University.

Jeffrey Williams is a Fund Manager at SIMNA, which involves portfoliomanagement for the firm’s securitized credit strategies, with a particular focuson CMBS, commercial real estate loans and related assets. He joined SIMNAin 2016 and is based in New York. Mr. Williams was a Managing Director atBrookfield from 2012 to 2016, which involved portfolio management for thesecuritized credit team with an emphasis on CMBS and commercial real estateloans. He was a Partner – Debt Investments at Wesley Capital Management,LLC from 2008 to 2012, which involved portfolio management and trading ofdebt securities for a long/short real estate securities hedge fund. He was a VicePresident at Capital Trust, Inc. from 2006 to 2008, which involved portfoliomanagement and trading of CMBS, CDO and REIT bonds. Mr. Williams holdsan MBA in Finance from Georgia State University and BA in Finance fromUniversity of South Florida. He is also a CFA Charterholder.

Anthony Breaks is a Fund Manager at SIMNA, with a focus on RMBS,ABS and CLOs. He joined SIMNA in 2016 and is based in New York.

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Mr. Breaks was a Managing Director at Brookfield from 2005 to 2016,managing structured credit portfolios. He was a Director at ImagineReinsurance, a subsidiary of Brookfield from 2002 to 2005, focused onstructured credit investments and structured reinsurance transactions. Prior tothat, he was a Director at Liberty Hampshire from 2000 to 2002, involved inanalysis and issuance of structured securities, and an Analyst at Merrill Lynchfrom 1998 to 2000, involved in CLO structuring and securities analysis.Mr. Breaks holds a BSc in Electrical Engineering from Massachusetts Instituteof Technology and is a CFA Charterholder.

The Administrator

Pursuant to an administration agreement, the Adviser also provides variousadministrative services to the Fund, including, among other responsibilities,preparing and coordinating reports and other materials to be supplied to theBoard; preparing and/or supervising the preparation and filing with theapplicable regulatory authority of all securities filings, periodic financialreports, prospectuses, statements of additional information, marketing materials,tax returns, stockholder reports and other regulatory reports and filings requiredof the Fund; supervising and monitoring the preparation of all required filingsnecessary to maintain the Fund’s qualification and/or registration to sell Sharesin all states where the Fund currently does, or intends to do business;coordinating the preparation, printing and mailing of all materials required tobe sent to stockholders; coordinating the preparation and payment of Fund-related expenses; monitoring and overseeing the activities of the Fund’s otherservice providers; reviewing and adjusting as necessary the Fund’s daily expenseaccruals; monitoring daily, monthly and periodic compliance with respect tofederal and state securities laws; and sending periodic information(i.e., performance figures) to service organizations that track investmentcompany information.

The Sub-Administrator

Pursuant to a sub-administration agreement, U.S. Bancorp Fund Services,LLC (d/b/a U.S. Bank Global Fund Services) (“USBFS” or the “Sub-Administrator”), 1201 South Alma School Road, Suite 3000, Mesa, Arizona 85210,acts as the Sub-Administrator to the Fund. USBFS provides certain services tothe Fund including, among other responsibilities, coordinating the negotiationof contracts and fees with, and the monitoring of performance and billing of,the Fund’s independent contractors and agents; preparing for signature by anofficer of the Fund of all documents required to be filed for compliance by theFund with applicable laws and regulations, excluding those of the securitieslaws of various states; arranging for the computation of performance data,including net asset value per share and yield; responding to stockholderinquiries; and arranging for the maintenance of books and records of the Fund,and providing, at its own expense, office facilities, equipment and personnelnecessary to carry out its duties. In this capacity, USBFS does not have any

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responsibility or authority for the management of the Fund, the determinationof investment policy, or for any matter pertaining to the distribution of FundShares.

The Fund’s Auditor

At a meeting held on February 19, 2020, the Audit Committee of the Fundunanimously recommended the selection of, and the Directors unanimouslyapproved, Deloitte & Touche LLP as the Fund’s independent registered publicaccounting firm for the current fiscal year ending December 31, 2020. TheFund is not submitting the Audit Committee’s selection of Deloitte as the Fund’sindependent registered public accounting firm for ratification by itsstockholders because doing so is not required by law. Representatives of Deloitteare expected to be present at the Meeting and will have an opportunity to makea statement if they desire to do so, and are also expected to be available torespond to appropriate questions.

The following table sets forth the aggregate fees billed or to be billed tothe Fund for services performed for the fiscal years ended December 31, 2019and December 31, 2018 by Deloitte.

2019 2018

Audit fees $64,000 $60,000Audit-related fees $0 $0Tax fees1 $9,600 $9,600All other fees2 $0 $01 Tax fees consist of fees for review of tax returns and tax distribution requirements.2 SSAE 16 Review (formerly, SAS No. 70) fees for the fiscal years ended December 31, 2019

and December 31, 2018 were $145,000 and $140,000, respectively, which were billed by Deloitte to the Adviser.

As indicated above, the Board has adopted a written charter for the AuditCommittee (the “Charter”), which is available on the Fund’s website athttps://publicsecurities.brookfield.com/en. The Fund’s Audit Committee reviewsthe Charter at least annually and may recommend changes to the Board. Eachmember of the Audit Committee of the Fund is independent as independenceis defined in the listing standards of the New York Stock Exchange. The AuditCommittee has adopted policies and procedures for pre-approval of theengagement of the Fund’s auditors. The Audit Committee evaluates the auditor’squalifications, performance and independence at least annually by reviewing,among other things, the relationship between the auditor and the Fund, as wellas the Adviser or any control affiliate of the Adviser, any material issues raisedby the most recent internal quality control review and the auditor’s internalquality control procedures.

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DELINQUENT SECTION 16(a) REPORTS

Section 16(a) of the Exchange Act requires the Fund’s directors andexecutive officers, and persons who own more than ten percent of a registeredclass of the Fund’s equity securities, to file with the Securities and ExchangeCommission initial reports of ownership and reports of changes in ownershipof common stock and other equity securities of the Fund. Officers, directorsand greater than ten percent stockholders are required by Securities andExchange Commission regulation to furnish the Fund with copies of allSection 16(a) forms they file.

Based solely on a review of the copies of such reports furnished to theFund and written representations that no other reports were required, allSection 16(a) filing requirements were complied with during the Fund’s fiscalyear ended December 31, 2019.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERSAND MANAGEMENT

As of December 31, 2019, there were no persons who beneficially owned5% or more of the shares of the Fund.

OTHER BUSINESS

The Board of Directors of the Fund does not know of any other matterwhich may come before the Meeting or any postponement or adjournmentthereof. If any other matter properly comes before the Meeting or anypostponement or adjournment thereof, it is the intention of the persons namedin the proxy to vote the proxies in accordance with their discretion on thatmatter.

PROPOSALS TO BE SUBMITTED BY STOCKHOLDERS

Any proposal of a stockholder intended to be included in the Fund’s proxystatement for the 2021Annual Meeting of Stockholders pursuant to Rule 14a-8under the Exchange Act, must be received by us no later than January 8, 2020,unless the date of our 2021 Annual Meeting of Stockholders is more than30 days before or after June 18, 2021, in which case the proposal must bereceived a reasonable time before we begin to print and mail the Fund’s proxymaterials. All proposals should be directed to the Secretary of the Fund, atBrookfield Place, 250 Vesey Street, 15th Floor, New York, New York 10281-1023.

Pursuant to the current Bylaws of the Fund, nominations of individualsfor election to the Board and the proposal of other business to be considered bythe stockholders may be made at an annual meeting of stockholders by anystockholder who was a stockholder of record both at the time of giving of theprescribed notice by the stockholder and at the time of the annual meeting, whois entitled to vote at the meeting in the election of each individual so nominatedor on any such other business. For any nomination or other business to be properly

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brought before an annual meeting by a stockholder, the stockholder must havegiven timely notice thereof in writing to the Secretary of the Fund, BrookfieldPlace, 250 Vesey Street, 15th Floor, New York, New York 10281-1023, and in thecase of any such other business, such other business must otherwise be a propermatter for action by the stockholders. To be timely, a stockholder’s notice mustbe delivered to the Secretary of the Fund not earlier than the 150th day norlater than the 120th day prior to the first anniversary of the preceding year’sannual meeting. For matters to be presented at the 2021 annual meeting ofstockholders, the notice must be delivered to the Secretary of the Fund notearlier than January 19, 2021 and not later than February 18, 2021. Thenotification must be in the form prescribed by the current Bylaws. The advancenotice provisions provide the Fund and its Directors with the opportunity tothoughtfully consider and address the matters proposed before the Fundprepares and mails its proxy statement to stockholders. In no event shall thepublic announcement of a postponement or adjournment of an annual meetingto a later date or time commence a new time period for giving of a stockholder’snotice as described above. Please contact the Secretary of the Fund foradditional information about the advance notice requirements.

Stockholder proposals that are submitted in a timely manner, as describedabove, will not necessarily be included in the Fund’s proxy materials. Inclusionof such proposals is subject to limitations under the federal securities laws.

EXPENSES OF PROXY SOLICITATION

The cost of preparing, mailing and assembling material in connection withthis solicitation of proxies will be borne by the Fund. In addition to the use ofthe mail, proxies may be solicited personally by officers of the Fund or byregular employees of the Adviser. Brokerage houses, banks and other fiduciarieswill be requested to forward proxy solicitation material to their principals toobtain authorization for the execution of proxies, and they will be reimbursedby the Fund for out-of-pocket expenses incurred in connection therewith.

May 8, 2020

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