Brookfield Owns The World
Updated October, 2024
Market/Symbol
TSE:BN
Price
$78.84-0.58%
Market Cap
$93b
PE Ratio
120.09
Average Volume
1.5m
Pricing delayed 2 hours. Nov 21, 2024 9:00 AM
Investment Thesis
Best-In-Class Diversified Asset Manager
Brookfield Corp is a leading global investment firm with $800B in assets under management (AUM). It functions as the parent company, with significant interest in; Brookfield Asset Management, Brookfield Renewable Partners, Brookfield Infrastructure Partners, Brookfield Business Partners, Brookfield Property Group, and Insurance Solutions.
Brookfield Corp leverages its size and scale to make investments through the cycle and across the globe that very few others can. The results have been phenomenal, shares have compounded at 18% as the company has continuously recycled capital at attractive returns. The company has scope to continue executing on its proven playbook, creating shareholder value for years to come.
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"The group has a strong heritage as an owner and operator of real assets and is among the largest global investors in infrastructure, real estate, and renewable power"
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Brookfield Corporation focuses on long-term value creation through investments in real estate, infrastructure, renewable energy, private equity, and credit. Its strategy revolves around acquiring high-quality assets, improving their operations, and generating stable cash flows over the long term. The company also places a strong emphasis on sustainable investing and has been expanding its presence in renewable energy.
Carried interest is a significant component of Brookfield’s performance-based earnings. It represents the share of profits that Brookfield earns when its managed funds exceed performance benchmarks. In a recent restructuring, Brookfield retained all carried interest from existing funds and one-third of future carried interest, ensuring continued exposure to high-return opportunities. This performance fee structure is crucial for generating upside in earnings during periods of strong fund performance.
Brookfield mitigates risk by maintaining a diversified portfolio across different asset classes, such as real estate, infrastructure, and renewable energy, and by investing in assets that are essential to the global economy. Additionally, Brookfield employs a hands-on operational approach to improve the performance of its assets, which helps minimize risks associated with market volatility and cyclical downturns. Its global footprint also allows it to spread risk geographically.
Institutional partnerships are a critical component of Brookfield’s growth. The company manages capital on behalf of pension funds, sovereign wealth funds, and other large institutional investors, providing them with access to long-term alternative investments. These partnerships allow Brookfield to leverage external capital for acquisitions and expansion without overleveraging its own balance sheet. This enables Brookfield to pursue larger deals and broaden its investment scope, particularly in global infrastructure and renewable energy
Brookfield Corporation owns significant stakes in each of these subsidiaries.
Each unit operates somewhat independently, focusing on specific asset classes, but they all contribute to the broader corporate goal of generating long-term, sustainable growth.
Brookfield earns management fees, carried interest, and profits from its own investments in these units, creating multiple income streams.
Investor Materials
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Team
Bruce Flatt
CEO
Bruce Flatt is the Chief Executive Officer of Brookfield, a global investment firm focused on alternative asset management, wealth solutions, and its operating businesses, with approximately $1 trillion in assets under management.
Mr. Flatt joined Brookfield in 1990 and became CEO in 2002. Under his leadership, Brookfield has developed a global operating presence in more than 30 countries.
Mr. Flatt has served on many public company boards over the past three decades.
Mark Carney
Chair, Brookfield Asset Management; Head of Transition Investing
Mark Carney is the Chair of Brookfield Asset Management and Head of Transition Investing. In this role, he is focused on the development of products for investors that will combine positive social and environmental outcomes with strong risk-adjusted returns.
Mr. Carney is an economist and banker who served as the Governor of the Bank of England from 2013 to 2020, and prior to that as Governor of the Bank of Canada from 2008 until 2013. He was Chairman of the Financial Stability Board from 2011 to 2018. Prior to his governorships, Mr. Carney worked at Goldman Sachs as well as the Canadian Department of Finance.
Connor Teskey
President, Brookfield Asset Management; CEO Renewable Power & Transition
Connor Teskey is President of Brookfield Asset Management. He is also the head of Brookfield’s Renewable Power & Transition business and Chief Executive Officer of Brookfield Renewable Partners. In this role, he is responsible for investments, operations and the expansion of the Renewable Power & Transition business.
Mr. Teskey joined Brookfield in 2012 and has held a variety of investment and management roles. Prior to Brookfield, he worked in corporate debt origination at a Canadian bank.
Mr. Teskey holds a Bachelor of Business Administration degree from the University of Western Ontario.
Nicholas Goodman
President and Chief Financial Officer, Brookfield Corporation
Nicholas Goodman is President and Chief Financial Officer of Brookfield Corporation. In this role, he is responsible for allocating the Corporation’s capital across Brookfield’s various businesses and new business initiatives. He also has overall responsibility for global finance, tax, treasury and capital markets.
Mr. Goodman joined Brookfield in 2010 and since then has held several roles, including Chief Financial Officer of Brookfield Asset Management and Chief Financial Officer of Brookfield Renewable Partners. Prior to Brookfield, Mr. Goodman worked for large financial institutions in London and New York.
Mr. Goodman holds a Bachelor of Arts (Hons) from the University of Strathclyde in Glasgow, Scotland, and is a member of the Institute of Chartered Accountants of Scotland.
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