Welcome to our dedicated page for Brookfield Asset Management Ltd. news (Ticker: BAM), a resource for investors and traders seeking the latest updates and insights on Brookfield Asset Management Ltd. stock.
Brookfield Asset Management Ltd. (NYSE: BAM, TSX: BAM) is a leading global alternative asset manager with over $900 billion of assets under management. Specializing in alternative asset management services, the company offers an extensive range of investment products to a diverse group of investors including public and private pension plans, endowments, foundations, sovereign wealth funds, financial institutions, insurance companies, and private wealth investors.
Brookfield's portfolio spans several key sectors such as renewable power and transition, infrastructure, private equity, real estate, and credit. The firm invests client capital for the long term with a focus on real assets and essential service businesses that support the global economy.
Recent achievements include a strategic partnership with Zoetis Inc. through a Virtual Power Purchase Agreement, powering a significant portion of the Heart of Texas Wind Farm. Brookfield has also been active in furthering its investment strategies; it has acquired a majority stake in Castlelake, an asset-backed private credit manager, and an additional 5% interest in Oaktree.
Financially, Brookfield is robust, with $107 billion in uncalled fund commitments as of December 31, 2023. The company continues to grow its fee-bearing capital and recently completed the acquisition of AEL through its reinsurance arm, managing an additional $50 billion of capital. Regular dividends are declared, reflecting the company’s commitment to rewarding its shareholders.
Brookfield operates with a philosophy of investing for value across economic cycles, drawing on its heritage as both an owner and operator to generate strong returns for its clients. The company also emphasizes sustainability, as evidenced by its leadership in renewable power and decarbonization solutions.
For more detailed information, visit the Brookfield Asset Management website at bam.brookfield.com.
PosiGen has secured an additional $200 million funding commitment from Brookfield Asset Management through its high-yield infrastructure debt platform. This marks Brookfield's third investment, bringing their total commitment to $600 million since 2023 to support PosiGen's deployment of rooftop solar projects.
The funding will support new projects, including those driven by PosiGen's direct sales and channel partner platform. PosiGen, a Certified B , focuses on providing renewable energy and energy efficiency solutions to underserved communities by eliminating traditional barriers like credit score requirements and income thresholds.
Summit Broadband has secured an additional $100 million debt facility and term expansion from Brookfield Asset Management to accelerate its Florida expansion. The company, backed by Grain Management, operates a 5,000 route-mile fiber network and aims to enhance services for existing customers while expanding its residential and commercial fiber network footprint.
Under CEO Kurt Van Wagenen's leadership since 2023, Summit Broadband has invested in expanding its leadership team, upgrading its network infrastructure, enhancing customer experience, and launching new products, while improving profitability and growing revenue. The new funding will support growth in both established residential and expanding commercial segments.
Tiger Infrastructure Partners announced a minority equity investment in Strategic Venue Partners (SVP) by Brookfield Asset Management and its institutional partners. Additionally, there is a material upsizing of SVP's existing Revolving Credit Facility involving current and new commercial bank lenders. These transactions are aimed at leveraging the increasing demand for in-building wireless (IBW) infrastructure.
SVP CEO Justin Marron highlighted the strategic importance of this investment and the expanded credit facility, noting that it validates the rising market demand for SVP's unique wireless connectivity-as-a-service model. SVP provides comprehensive lifecycle management of wireless systems, important for functions across various sectors, including healthcare, hospitality, and higher education.
Emil W. Henry, Tiger Infrastructure CEO, emphasized the value generated by the partnership with Brookfield. Marc H. Blair, COO of Tiger Infrastructure, noted SVP's strong growth in 2024, which includes expanding infrastructure assets and entering new markets. Brookfield's Managing Director Hamish Kidd expressed confidence in SVP's efficient and scalable business model.
Orthopedic Care Partners (OCP) has appointed Dr. Tim Corvino as CEO and secured significant financing, including a $185 million strategic investment from Brookfield Asset Management and a $358 million senior debt refinancing led by TPG Twin Brook Capital Partners. The refinancing extends and reduces the interest rate on existing credit facilities while providing additional revolving credit and delayed draw term loan options.
OCP, backed by Varsity Healthcare Partners, operates across five states with 136 physicians, 42 clinical locations, and six ambulatory surgery centers. Dr. Corvino, formerly CEO of Spire Orthopedic Partners and COO of Covenant Physician Partners, will lead the company's expansion into new markets and focus on enhancing patient care.
Brookfield Asset Management, managing over $1 trillion in assets, has opened a new office hub in Paris to strengthen its French market presence. The company, which has been investing in France since 2015, employs over 7,000 people through its operations spanning digital infrastructure, renewable energy, and real estate sectors.
A significant development includes Brookfield's planned acquisition of a 53% stake in Neoen, a Paris-based renewable energy leader, with a total equity value of €6.1 billion. The transaction's first stage is expected to close this year, followed by a tender offer for remaining shares in early 2025.
Brookfield's French portfolio includes investments in Data4 (data centers), HomesServe (residential decarbonization), Castignac (logistics), UXCO Group (student housing), Experimental Group (hospitality), and TDF (communication towers). The company manages approximately €180 billion of assets across Europe.
Brookfield Asset Management (NYSE: BAM, TSX: BAM) has announced that CEO Bruce Flatt will present at the Goldman Sachs US Financial Services Conference on Wednesday, December 11, 2024, at 10:40 a.m. ET. The presentation will be accessible through a live webcast, with the link available in the 'Events' section of Brookfield's investor relations website at www.bam.brookfield.com.
Brookfield Asset Management (NYSE: BAM, TSX: BAM) announced a delay in its special shareholder meeting, originally scheduled for December 20, 2024, due to a Canadian postal strike preventing the mailing of meeting materials. The company is working with regulators to meet requirements and maintains its goal of closing the previously announced arrangement in Q1 2025. The record date for shareholder voting eligibility remains November 12, 2024. The new meeting date will be announced via SEDAR+ and EDGAR, along with detailed information in the upcoming information circular.
Brookfield Asset Management (BAM) reported record third quarter results with fee-related earnings up 14% year-over-year to $644 million. The company's fee-bearing capital grew 23% to $539 billion, driven by $101 billion in fundraising and $25 billion of capital deployment over the last twelve months. In Q3 2024, BAM raised $21 billion across various sectors, with notable contributions from credit ($14 billion), renewable power ($2.2 billion), and infrastructure ($1.4 billion). The company deployed approximately $20 billion and monetized over $17 billion in investments. Net income for BAM totaled $129 million for the quarter, and the board declared a quarterly dividend of $0.38 per share.
Brookfield Asset Management (BAM) announced significant corporate structure changes, including moving its head office to New York and plans to acquire Brookfield 's (BN) 73% interest in the asset management business. The restructuring aims to simplify BAM's corporate structure and enhance its potential for broader equity index inclusion. Under the arrangement, BAM's market capitalization would reflect the total value of the asset management business, potentially increasing from current $23 billion to approximately $85 billion. Shareholders will vote on this arrangement on December 20, 2024, with expected closure in early 2025 subject to approvals.
Fundamental Income Properties, a Phoenix-based net lease real estate company, has closed a $241.0 million long-term fixed-rate note issuance, designated as Fundamental Income Net-Lease Mortgage Notes, Series 2024-1. This marks the company's third note issuance under its FI Master Trust program and its first to achieve a 'AAA' rating from Standard & Poor's (S&P) on the senior class of notes.
The issuance comprises three classes of 5-year notes: $144.6 million of Class A-1 notes rated 'AAA', $72.3 million of Class A-2 notes rated 'AA', and $24.1 million of Class A-3 notes rated 'A'. Additionally, S&P upgraded $178.6 million of outstanding A-1 'AA' notes from the Series 2023-1 to 'AAA'.
This successful offering reflects investor confidence in Fundamental Income, which has acquired and financed over $1.6 billion of single-tenant properties across 43 states and 51 industries since 2020.
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