Brookfield Asset Management
|Traded as||TSX: BAM.A|
S&P/TSX 60 component
Frederick Stark Pearson
|Frank McKenna (Chairman)|
Bruce Flatt (CEO)
|Revenue||US$56 billion (2018)|
|US$7.5 billion (2018)|
|AUM||US$350 billion (2018)|
|Total equity||US$97 billion (2018)|
Number of employees
|80,000 operating employees|
800 investment professionals
Brookfield Property Partners
Brookfield Infrastructure Partners
Brookfield Renewable Partners
Brookfield Business Partners
Brookfield Office Properties
Brookfield Asset Management Inc. is an alternative asset management company. It has around $330 billion of assets under management, focusing on real estate, renewable power, infrastructure and private equity. The company's headquarters are located in Toronto, and it also has corporate offices in New York City, London, Rio de Janeiro and Sydney.
The company was founded in 1899, as the São Paulo Tramway, Light and Power Company by William Mackenzie and Frederick Stark Pearson. Operating as in construction and management of electricity and transport infrastructure in Brazil.
In 1904, the Rio de Janeiro Tramway, Light and Power Company was founded by Mackenzie's group.
In 1912, Brazilian Traction, Light and Power Company was incorporated in Toronto as a public company to develop hydro-electric power operations and other utility services in Brazil, becoming a holding company for São Paulo Tramway Co. and Rio de Janeiro Tramway Co.
In 1966, Brazilian Traction, Light and Power Company changed its name to Brazilian Light and Power Company, and again in 1969, changed its name to Brascan Limited. Brascan is a portmanteau of "Brasil" and "Canada".
In 1979, the company's Brazilian assets were transferred to Brazilian ownership (Eletropaulo and Light S.A.), the company meanwhile having diversified to other areas. The company provided electricity and tram services in São Paulo and Rio de Janeiro, and the Brazilian side after a later restructuring still operates as Light S.A., short for Brazilian Traction, Light and Power Co. Ltd.
In November 2008, in a process supervised by the Alberta courts, PricewaterhouseCoopers (PwC) was appointed receiver of a separate public company, Birch Mountain Resources, after Birch Mountain had defaulted on its debts. Birch Mountain's assets of $50 million dollars were transferred to Tricap Partners Ltd, which operates under the Hammerstone Corporation, a subsidiary of Brookfield Special Situations Group. In September 2010, a group called Birch Mountain Shareholders for Justice filed a lawsuit with the Superior Court of Justice in Ontario, Canada, against Brookfield Asset Management challenging this acquisition and transfer of assets. After five years of litigation the case was dismissed. In May 2015, the plaintiffs filed a notice of appeal which was also dismissed.
By 2018, Brookfield's major public subsidiaries included Brookfield Infrastructure Partners, Brookfield Renewable Partners, Brookfield Property Partners, and Brookfield Business Partners
In August 2018, Brookfield purchased Westinghouse Electric Company, a manufacturer of large nuclear reactors, out of bankruptcy for $4.6 billion. On March 13, 2019, Brookfield Asset Management announced that it had agreed to buy most of Oaktree Capital Management for about $4.7 billion, creating one of the world’s largest alternative money managers.
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For the fiscal year 2018, Brookfield Asset Management reported earnings of US$3.584 billion, with an annual revenue of US$56.771 billion, an increase of 39.2% over the previous fiscal cycle. Brookfield Asset Management's shares traded at over $38 per share, and its market capitalization was valued at over US$40.8 billion in November 2018.
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|Wikimedia Commons has media related to Brookfield Asset Management.|
- Edper Investments, the Bronfman holding company that controlled Brascan from 1979-1993.
- List of real estate companies of Canada
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- McDonald v Brookfield Asset Management Inc Archived 23 September 2015 at the Wayback Machine, 2015 ABQB 281
- "In the Court of Appeal of Alberta/Citation: McDonald v Brookfield Asset Management Inc., 2016 ABCA 375" (PDF). 5 December 2016. Retrieved 1 June 2017.
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- "Brookfield to Acquire 62% of Oaktree Capital Management". NASDAQ.com. Retrieved 2019-03-14.
- "Reports & Filings". bam.brookfield.com. Retrieved 2018-11-07.
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