The Globe and Mail reports in its Wednesday edition Brookfield Asset Management may invest more than 3.3 billion reals ($1.1-billion (U.S.)) in Brazil, with distressed assets accounting for about two-thirds of the total. A Bloomberg dispatch to The Globe says commercial real estate, sugar, ethanol and construction are some of the businesses Brookfield is mulling. Brookfield already acquired a portfolio of renewable-energy assets from Energisa SA for 1.4 billion reals, excluding debt, in November, and bought a $312-million (U.S.) Sao Paulo property in September. Asset prices in Brazil have dropped amid forecasts Latin America's largest economy will suffer its worst contraction in a quarter century this year, and as the government struggles to shore up fiscal accounts and tame inflation to avert a credit-rating downgrade. Fallout from Petroleo Brasileiro SA's corporate-corruption scandal has also trapped suppliers of the company, known as Petrobras, in a credit squeeze. Brookfield's new investments may include 800 million reals in financing for OAS SA, the construction company that filed for legal protection from its creditors in Sao Paulo last month. OAS was banned from bidding on new projects with Petrobras.