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Brookfield Asset Management Ltd. - BAM STOCK NEWS

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.

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Brookfield Asset Management (NYSE: BAM, TSX: BAM) has announced its upcoming third quarter 2024 conference call and webcast, scheduled for Monday, November 4, 2024, at 10:00 a.m. (ET). The company will release its results prior to 7:00 a.m. (ET) on the same day, which will be available on their website. Participants can join via conference call or webcast, with pre-registration required for the call.

Brookfield Asset Management is a leading global alternative asset manager with approximately $1 trillion of assets under management. The company focuses on real assets and essential service businesses across sectors such as renewable power and transition, infrastructure, private equity, real estate, and credit. They offer investment products to a diverse range of institutional and private investors globally.

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Brookfield Oaktree Wealth Solutions has released findings from 'The Alts Institute' Alternative Investing Survey, revealing strong demand for alternative investments among high-net-worth (HNW) investors and financial advisors. The survey, conducted by CoreData, focused on HNW investors with at least $2.5 million in investable assets and advisors managing an average of $633 million.

Key findings include:

  • 88% of current alternative investment users are open to increasing their allocation
  • 72% of non-users would consider alternatives with better understanding
  • 70% would invest in alternatives if recommended by their advisor
  • 91% of advisors believe building knowledge in alternatives is worthwhile
  • 41% of HNW investors have considered changing advisors to access high-quality alternatives

The survey highlights the growing importance of alternative investments in portfolio construction and client satisfaction, with advisors recognizing their potential to drive business growth and enhance client conversations.

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CDPQ, a global investment group, has announced an agreement with Brookfield Asset Management (NYSE: BAM) and its partners to acquire a 25% stake in First Hydro Company, a critical electricity generation and storage facility in the United Kingdom. First Hydro operates two power plants in Wales, offering a capacity of over 2,000 MW, representing 76% of the UK's total pumped hydro storage. This infrastructure is important for the country's increasing grid flexibility and stability needs.

The investment marks CDPQ's first venture into pumped hydro storage, partnering with Engie, which owns the remaining 75%. Emmanuel Jaclot, CDPQ's Executive VP and Head of Infrastructure, highlighted First Hydro's critical role in managing the UK's national electricity system and meeting net zero commitments. The financial close is expected by the end of 2024, subject to customary conditions and approvals.

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Brookfield Asset Management (NYSE: BAM, TSX: BAM) has announced an initial closing of $2.4 billion for its Catalytic Transition Fund (CTF), targeting up to $5 billion for clean energy and transition assets in emerging markets. The fund is anchored by a $1 billion catalytic capital investment from ALTÉRRA, with additional commitments from CDPQ, GIC, Prudential, and Temasek, among others.

CTF aims to deploy capital in South and Central America, South and Southeast Asia, the Middle East, and Eastern Europe. ALTÉRRA's commitment is designed to improve risk-adjusted returns for other investors. Brookfield has committed 10% of the fund's target. The fund expects to announce initial investments later in 2024, with a traditional first close anticipated by early 2025.

This partnership addresses the need to increase clean energy investment in emerging markets sixfold to reach $1.6 trillion annually by the early 2030s, aligning with global net zero targets.

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Brookfield Asset Management (NYSE: BAM, TSX: BAM) has completed a $1.5 billion strategic partnership with Castlelake L.P., a global alternative investment manager. The deal includes Brookfield acquiring a 51% stake in Castlelake's fee-related earnings and Brookfield Wealth Solutions committing to invest in Castlelake's strategies and funds. Castlelake, founded in 2005, specializes in asset-based private credit, including aviation and specialty finance. The firm manages approximately $24 billion in assets for over 200 institutional investors and has deployed $39 billion of capital across more than 1,300 transactions globally. Castlelake will maintain its independence, current governance, and leadership structure, with Rory O'Neill as Executive Chair and Evan Carruthers as CEO and CIO.

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American Tower (NYSE: AMT) has closed the sale of its India operations to Data Infrastructure Trust (DIT), sponsored by Brookfield Asset Management. The transaction yielded total cash proceeds of approximately $2.5 billion, including $320 million from monetizing Vodafone Idea debentures and receivables, and $2.2 billion in final closing proceeds. American Tower plans to use these funds to repay existing debts, including the India term loan.

As a result of this sale, ATC India's results will now be reported as discontinued operations. The company has provided updated 2024 outlook estimates, adjusting for the transaction's impact on property revenue, Adjusted EBITDA, and AFFO per share. American Tower has also released proforma estimates for continuing operations, factoring in interest expense savings from the sale proceeds.

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Brookfield Asset Management (NYSE: BAM, TSX: BAM) has announced a strategic funding partnership with Infinium, committing to invest up to $1.1 billion to accelerate the growth of Infinium's eFuels platform. The investment includes $200 million in Infinium and its Project Roadrunner in West Texas, with up to an additional $850 million for global eFuels projects deployment. Infinium's eFuels, including eSAF (sustainable aviation fuel), can reduce lifecycle greenhouse gas emissions by approximately 90% or more compared to conventional fuels.

The investment will be made through Brookfield's Global Transition Fund and marks its first direct investment in sustainable aviation fuel. Infinium recently secured a deal with American Airlines to supply commercial volumes of eSAF starting in 2026. Project Roadrunner will also produce eNaphtha for plastics manufacturing and eDiesel for long-haul trucking and maritime applications.

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Scout Clean Energy, a leading national renewable energy developer-owner-operator, has appointed Kris Cheney as Chief Development Officer. Cheney brings over a decade of leadership experience in developing wind, solar, and storage projects. He joins Scout from EDP Renewables North America, where he most recently served as Executive Vice President of West, Central, and Environmental Affairs.

During his 15-year tenure at EDPR NA, Cheney helped scale the company from 200 to over 1,000 employees and oversaw the development of a 25 GW pipeline. His portfolio includes the development of 3,500 MW of projects, totaling $3.5 billion in capital investment. Cheney's appointment aims to strengthen Scout's ability to execute on its 19 GW pipeline of renewable energy assets as the company continues its significant growth trajectory.

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Brookfield Asset Management (NYSE: BAM, TSX: BAM) reported strong Q2 2024 results with assets under management reaching approximately $1 trillion. The company raised $68 billion in capital during the quarter, with significant momentum in its Credit business. Fee-related earnings (FRE) grew 11% to $2.5 billion annualized, while distributable earnings (DE) increased 12% to $2.4 billion annualized.

Key highlights include:

  • Fee-bearing capital reached $514 billion, up 17% year-over-year
  • $61 billion raised in the Credit franchise, including $49 billion from AEL
  • Deployed or committed to deploy $20 billion across various investments
  • Announced acquisition of a majority stake in Neoen, a global renewable development business
  • Declared a quarterly dividend of $0.38 per share
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Intrepid Fiber Networks has secured $290 million in debt financing to fund its nationwide wholesale open access fiber broadband service. The company, supported by Brookfield, will use the proceeds for inaugural deployments in Colorado and Minnesota, covering over 250,000 premises. Société Générale acted as the Structuring and Coordinating Advisor for the financing.

CEO Jack Waters emphasized that this funding accelerates their growth and build plan. Intrepid aims to deliver future-proof fiber networks with symmetrical gigabit speeds, providing end users with more options in choosing their preferred Internet Service Provider. The company is also evaluating new market deployments to expand its open access network across the nation.

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FAQ

What is the current stock price of Brookfield Asset Management Ltd. (BAM)?

The current stock price of Brookfield Asset Management Ltd. (BAM) is $54.42 as of December 20, 2024.

What is the market cap of Brookfield Asset Management Ltd. (BAM)?

The market cap of Brookfield Asset Management Ltd. (BAM) is approximately 22.7B.

What does Brookfield Asset Management specialize in?

Brookfield Asset Management specializes in alternative asset management services, investing in real assets and essential service businesses across sectors including renewable power, infrastructure, private equity, real estate, and credit.

How much does Brookfield Asset Management have in assets under management?

Brookfield Asset Management manages over $900 billion in assets.

Who are Brookfield Asset Management's primary investors?

Brookfield's primary investors include public and private pension plans, endowments, foundations, sovereign wealth funds, financial institutions, insurance companies, and private wealth investors.

What recent strategic initiatives has Brookfield Asset Management undertaken?

Recent initiatives include a Virtual Power Purchase Agreement with Zoetis Inc., the acquisition of a majority stake in Castlelake, and an additional 5% interest in Oaktree.

What is Brookfield's focus in terms of investment philosophy?

Brookfield focuses on long-term investments in real assets and essential service businesses, emphasizing value generation across economic cycles.

How much uncalled fund commitments does Brookfield Asset Management have?

As of December 31, 2023, Brookfield has $107 billion in uncalled fund commitments.

Does Brookfield Asset Management declare regular dividends?

Yes, Brookfield Asset Management declares regular dividends as part of its strategy to reward shareholders.

What is Brookfield's role in renewable energy?

Brookfield is a global leader in renewable power and decarbonization solutions, managing significant assets in wind, solar, and other renewable energy sources.

What major acquisitions has Brookfield recently completed?

Brookfield recently completed the acquisition of AEL through its reinsurance arm and a majority stake in Castlelake.

Where can I find more information about Brookfield Asset Management?

More information can be found on their website at https://bam.brookfield.com.

Brookfield Asset Management Ltd.

NYSE:BAM

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BAM Stock Data

22.69B
356.91M
14.15%
70.24%
1.98%
Asset Management
Financial Services
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