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.
Brookfield (NYSE: BAM, TSX: BAM.A) announced on June 23, 2022, that only 13,675 of the Cumulative Class A Preference Shares, Series 28, were tendered for conversion to Series 29 Shares by the June 15 deadline. This is significantly less than the required one million shares for conversion. Consequently, there will be no conversion, and holders will retain their Series 28 Shares.
Brookfield manages approximately US$725 billion in assets across various sectors, including real estate, infrastructure, and private equity, serving a diverse range of investors globally.
Brookfield has successfully closed the Brookfield Global Transition Fund (BGTF) with a remarkable total capital of $15 billion, positioning it as the largest private fund aimed at facilitating the transition to a net-zero carbon economy. This fund has seen oversubscription due to strong institutional investor demand, with $2.5 billion already deployed in significant decarbonization projects, including solar power and carbon capture initiatives. Co-led by Mark Carney and Connor Teskey, BGTF aims for strong returns while addressing climate change.
Brookfield (NYSE: BAM, TSX: BAM.A) announced that all eight director nominees for Class A and Class B Limited Voting Shares were successfully elected during the annual meeting held on June 10, 2022. The voting results showed overwhelming support for the nominees, with most receiving over 99% approval from Class A shareholders. Notable directors include M. Elyse Allan and Angela F. Braly. The company manages approximately US$725 billion in assets across diverse sectors including real estate and renewable power, emphasizing its strong position in the global asset management space.
Brookfield (NYSE: BAM, TSX: BAM.A) has announced a fixed dividend rate for its Cumulative Class A Preference Shares, Series 28, starting from July 1, 2022, to June 30, 2027. The quarterly dividends will be at an annual rate of 4.606%, translating to $0.287875 per share per quarter. Shareholders can opt to convert their Series 28 Shares into Series 29 Shares by June 15, 2022, which will have floating dividends starting at 1.80% over the government treasury yield. The TSX has conditionally approved the listing of Series 29 Shares upon conversion.
Fundamental Income, a Phoenix-based net lease real estate platform, has acquired Tao Chicago, a 34,000 square foot restaurant and nightclub leased to the Tao Group in River North. The acquisition showcases Fundamental Income's strategy to purchase marquee assets with established leases. The property features a dining area for 275 guests and a nightclub, housed in a historical landmark. This acquisition is backed by Brookfield Asset Management (NYSE: BAM), indicating substantial investor confidence.
BROOKFIELD, NEWS, May 19, 2022 – Brookfield (NYSE: BAM) has received TSX approval for a normal course issuer bid to repurchase up to 138.7 million Class A Shares, representing 10% of their public float. The buyback will run from May 25, 2022, to May 24, 2023, or until purchases are completed. As of May 17, 2022, Brookfield had 1.64 billion Class A Shares outstanding, with a public float of 1.39 billion. The company purchased 5.83 million shares in the previous program, averaging a price of US$51.72. Brookfield views repurchasing shares as an attractive investment option.
The Board of Directors of GrafTech International Ltd. (NYSE:EAF) declared a quarterly cash dividend of $0.01 per share for stockholders of record as of May 31, 2022. This dividend will be paid on June 30, 2022. GrafTech is a leading manufacturer of high-quality graphite electrode products crucial for electric arc furnace steel production. The company operates three of the highest capacity manufacturing facilities globally and is vertically integrated into petroleum needle coke, enhancing its competitive edge in product quality and cost.
Brookfield (NYSE: BAM) reported strong Q1 2022 results, with net income of $2.96 billion and distributable earnings of $1.18 billion. Fundraising momentum is robust, with fee-bearing capital at $379 billion, up $14 billion in the quarter. A 25% interest in its asset management business will be listed and distributed to shareholders by year-end, tax-free for Canadian and U.S. investors. The company anticipates strong fundraising in 2022, including first closes for several flagship funds. The quarterly dividend is set at $0.14 per share, payable June 30, 2022.
GrafTech International Ltd. reported strong financial results for Q1 2022, with a net income of $124 million ($0.47 per share) and an adjusted EBITDA of $170 million, reflecting a 46% margin. Sales increased by 20% year-over-year to $366 million, driven by a 16% rise in sales volume and improved pricing, with non-LTA prices up 19% sequentially. The company generated $146 million in operating cash flow and reduced debt by $70 million, enhancing its balance sheet. GrafTech aims to benefit from a favorable steel industry outlook and increasing demand for graphite electrodes.
Brookfield will conduct its first quarter 2022 conference call and webcast on May 12, 2022, at 10:00 a.m. (ET). The results will be released that morning before 7:00 a.m. (ET) and can be accessed on their website. Participants can join via a conference call or webcast. For the conference call, pre-registration is required to receive a dial-in number and password. A telephone replay will be available until May 26, 2022. Brookfield Asset Management manages approximately $700 billion in assets across various sectors and is listed under the symbol BAM.
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