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 reported strong Q2 2022 results, with $1.5 billion net income and $1.2 billion cash flow. The firm now has $111 billion in available capital for investments, boosted by $21 billion in asset sales, generating $5 billion in gains. Distributable earnings before realizations increased by 26% to $1.0 billion. The board declared a quarterly dividend of $0.14 per share. Record fundraising reached $56 billion, affirming strong investor confidence. The firm is on track for shareholder distributions by year-end.
GrafTech International Ltd. (NYSE: EAF) reported strong financial results for Q2 2022, achieving a net income of $115 million, or $0.44 per share. Sales increased by 10% year-over-year to $364 million, although sales volume decreased by 1% to 42,000 metric tons. Adjusted EBITDA was $158 million, representing a 44% margin. The company reduced long-term debt by $40 million in Q2 2022, totaling $110 million in the first half of the year. CEO Marcel Kessler emphasized the company's resilience amid geopolitical challenges and ongoing efforts to strengthen its commercial capabilities.
Brookfield (NYSE: BAM, TSX: BAM.A) will hold its Q2 2022 conference call and webcast on August 11, 2022, at 10:00 a.m. (ET). Results will be available that morning before 7:00 a.m. (ET) on their website.
Participants can join via a pre-registered conference call or a webcast. The webcast link will provide a replay for 90 days. Brookfield manages approximately US$725 billion in assets across various sectors including real estate, infrastructure, and renewable energy.
GrafTech International Ltd. (NYSE:EAF) will host its Second Quarter 2022 Earnings Conference Call on August 5, 2022, at 10:00 a.m. EDT. The call will discuss financial results for the quarter ending June 30, 2022, and ongoing business initiatives. Results will be available before market open on the same day on their investor relations website. The conference call can be accessed via a toll-free number in North America and through an online webcast. GrafTech is a leading producer of graphite electrode products, crucial for electric arc furnace steel production.
GrafTech International Ltd. (NYSE: EAF) announced the appointment of Marcel Kessler as Chief Executive Officer and President effective July 1, 2022. He takes over from David J. Rintoul, who will retire on June 30, 2022. Mr. Kessler has previous experience as CEO of Pason Systems Inc. and holds a strong track record in executive leadership. The Board expressed confidence in his ability to lead GrafTech into its next growth phase, leveraging the company's competitive advantages in graphite electrode production.
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.
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