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Brookfield Asset Management, Inc.
Type Public
(NYSEBAM)
(TSXBAM.A)
Founded 1899
Headquarters Canada Toronto, ON, Canada
Area served Worldwide
Key people Robert J. Harding
(Chairman of the Board)
J. Bruce Flatt (CEO)
Industry Asset Management
Services Financial services
Revenue $ 12.868 billion (2008)
Operating income $ 181.00 million (2008)
Net income $ 462.00 million (2008)
AUM $ 95.000 billion (2008)
Total assets $ 53.611 billion (2008)
Total equity $ 5.788 billion (2008)
Employees 50,000 (2008)[1]
Website Brookfield.com

Brookfield Asset Management Inc. (TSXBAM.A, NYSEBAM) is an asset management company focused on sectors that provide sustainable and growing long-term cash flows. These core sectors include property, power and infrastructure assets and financial services. They generally provide value appreciation over time, high barriers to entry, an opportunity to capture price escalation and require minimal on-going capital expenditures.

Brookfield Asset Management has a market capitalization of over $20 billion and in excess of $ 94 billion of assets under management. It employs approximately 6,500 in the Americas and Europe.

Contents

Assets Under Management

  • Property: $26 billion
  • Power: $10 billion
  • Timber: $3 billion
  • Transmission Infrastructure: $3 billion
  • Specialty Funds: $29 billion
  • Other Infrastructure: $2 billion

The company's asset management offerings include alternative-type investments, structured financial products, traditional fixed income and equities and finite-risk reinsurance. Its financial services encompass acquisition financing, bridge loans and project financing. In addition, Brookfield Asset Management owns a significant stake in a real estate services company offering home relocations, property appraisals, move-in services and home transaction closing services, and capital market services, including financial advisory, securities underwriting, and property brokerage. Brookfield Asset Management's clients mainly include governments, institutions, corporations and high-net-worth individuals.

The company's corporate headquarters are located in Toronto and New York City. Its major investments presently include Brookfield Properties, Royal LePage, Transelec and Great Lakes Power Income Fund. It formerly controlled such major companies as Noranda Inc., Falconbridge Limited, Labatt, Royal Trust, Macmillan Bloedel and London Life.

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Property Operations

One of the largest property investors worldwide with over $26 billion of property assets. The commercial properties have approximately 100,000,000 square feet (9,300,000 m²) of rental space under management. Residential properties have 95,000 building lots. Services offered include property and brokerage services and bridge and mezzanine lending. It has a 50% stake in Brookfield Properties.

Power Operations

Its subsidiary Brookfield Renewable Power Inc. is one of the lowest-cost producers of electricity in North America with $10 billion of hydro and wind generation assets. The group operates 144 generating stations on 50 river systems and has key market interconnections. It also has flexible production with storage of 2,300 GWh\h and approximately 80% of generation is under contract.

Timber

The group has a 40-year track record of owning, operating and financing timberlands in North and South America that generate strong, sustainable cash flows. It owns 2.5 million acres (10,000 km²) of high quality timberlands and manages two funds: Island Timberland and Acadian Timber. It recently acquired 590,000 acres (2,400 km²) of timberlands in the Pacific Northwest.

Transmission

Transmission investments, totaling $3 billion, are currently focused on this regulated rate business. It operates more than 11,000 kilometers (6,875 miles) of transmission lines and over 1,700 kilometers (1,063) of distribution lines in Brazil, Canada and Chile. It also has the opportunity to participate in capacity upgrades.

Specialty Funds and Public Securities

Brookfield manages $29 billion of assets for institutional and retail investors in the areas of bridge and real estate financing, restructuring and in fixed income and real estate securities (bridge lending: $1.7 billion; public securities: $20.2 billion; restructuring: $1 billion and real estate finance: $5.8 billion).

Recent Initiatives

  • $6.1 billion acquisition of Multiplex Group (property and funds management businesses)
  • Spin-out of publicly-traded company focused on owning and managing infrastructure operations (Brookfield Infrastructure Partners)
  • Announced intention to seek listing on Euronext
  • Completed acquisition of Longview Fibre Company, expanding timberlands platform to 2.5 million acres (10,000 km²)
  • Added more than $10 billion in assets under management in past year in targeted sectors
  • Launched 10 new funds

Corporate governance

The members of the Board of Directors are: Jack L. Cockwell, Marcel R. Coutu, William A. Dimma, J. Trevor Eyton, James Bruce Flatt, James K. Gray, Robert J. Harding, David W. Kerr, Lance M. Liebman, Philip B. Lind, Roy MacLaren, G. Wallace, F. McCain, Frank McKenna, Jack M. Mintz, James A. Pattison, and George S. Taylor.

History

More than 100 years of owning, operating and developing infrastructure and property assets.

  • 1899: The São Paulo Railway, Light and Power Company was founded.
  • 1904: The Rio de Janeiro Light and Power Company was founded.
  • 1912: Brazilian Traction, Light and Power Company Limited is incorporated in Toronto as a public company to develop hydro-electric power operations and other utility services in Brazil.
  • 1916: Great lakes Power Company Limited is incorporated to provide hydro-electric power in Sault Ste. Marie and the Algoma District in Ontario.
  • June 1966: Brazilian Traction, Light and Power Company Limited changes its name to Brazilian Light and Power Company Limited.
  • June 4, 1969: Brazilian Light and Power Company Limited changes its name to Brascan Limited (BL).
  • November 10, 2005: changes its name to Brookfield Asset Management (BAM).

References

External links


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