The Globe and Mail reports in its Saturday edition that Brookfield Asset Management has named Anuj Ranjan chief executive officer of its $139-billion (U.S.) private equity business, as long-time head Cyrus Madon moves to an executive chair role. The Globe's James Bradshaw writes that Mr. Ranjan, 45, officially took charge as CEO Thursday, after nearly two years as president of the unit. He is now the day-to-day leader of the asset manager's private equity portfolio, which includes its publicly listed unit, Brookfield Business Partners LP. Mr. Madon has been a central figure in private equity in Canada since 2006, building Brookfield's division into a global heavyweight. On Mr. Madon's watch, Brookfield's private equity business has raised and mostly invested five cornerstone funds since 2001. Four of the five generated net internal rates of return of 15 per cent or more; the fourth, which made its first investments in 2015, generated an IRR of 46 per cent. Mr. Madon, 58, said he will stay "fully active" in the business as executive chair. The private equity arm of Brookfield is flush with capital after recently raising $12-billion (U.S.) for its latest flagship fund and largest to date, Brookfield Capital Partners VI.