Brookfield Asset Management

Brookfield Asset Management Inc.

Type	Public
Traded as	TSX: BAM.A NYSE: BAM Euronext: BAMA S&P/TSX 60 component
Industry	Financial services
Founded	1899; 120 years ago (1899)
Founder	William Mackenzie Frederick Stark Pearson
Headquarters	Brookfield Place, Toronto , Canada
Area served	Worldwide
Key people	Frank McKenna (Chairman) Bruce Flatt (CEO)
Services	Asset management
Revenue	US$56 billion (2018)[1]
Net income	US$7.5 billion (2018)[1]
AUM	US$350 billion (2018)[1]
Total equity	US$97 billion (2018)[1]
Number of employees	80,000 operating employees 800 investment professionals[1]
Subsidiaries	Brookfield Residential Brookfield Property Partners[2] Brookfield Infrastructure Partners Brookfield Renewable Partners Brookfield Business Partners Brookfield Office Properties
Website	www.brookfield.com/

Brookfield Asset Management Inc. is an alternative asset management company. It has around $330 billion of assets under management, focusing on real estate, renewable power, infrastructure and private equity.^[3] The company's headquarters are located in Toronto, and it also has corporate offices in New York City, London, Rio de Janeiro and Sydney.^[4][5]

Contents

• 
  1 History
  


• 
  2 Finances
  


• 
  3 See also
  


• 
  4 References
  

History

The company was founded in 1899, as the São Paulo Tramway, Light and Power Company by William Mackenzie and Frederick Stark Pearson. Operating as in construction and management of electricity and transport infrastructure in Brazil.

In 1904, the Rio de Janeiro Tramway, Light and Power Company was founded by Mackenzie's group.^[6]

In 1912, Brazilian Traction, Light and Power Company was incorporated in Toronto as a public company to develop hydro-electric power operations and other utility services in Brazil, becoming a holding company for São Paulo Tramway Co. and Rio de Janeiro Tramway Co.^[7]

In 1916, Great Lakes Power Company was incorporated to provide hydro-electric power in Sault Ste. Marie and the Algoma District in Ontario.^[8]

In 1966, Brazilian Traction, Light and Power Company changed its name to Brazilian Light and Power Company, and again in 1969, changed its name to Brascan Limited.^[7] Brascan is a portmanteau of "Brasil" and "Canada".^[9]

In 1979, the company's Brazilian assets were transferred to Brazilian ownership (Eletropaulo and Light S.A.), the company meanwhile having diversified to other areas.^[7] The company provided electricity and tram services in São Paulo and Rio de Janeiro, and the Brazilian side after a later restructuring still operates as Light S.A., short for Brazilian Traction, Light and Power Co. Ltd.^[10]

In November 2008, in a process supervised by the Alberta courts, PricewaterhouseCoopers (PwC) was appointed receiver of a separate public company, Birch Mountain Resources, after Birch Mountain had defaulted on its debts. Birch Mountain's assets of $50 million dollars were transferred to Tricap Partners Ltd, which operates under the Hammerstone Corporation, a subsidiary of Brookfield Special Situations Group.^[11] In September 2010, a group called Birch Mountain Shareholders for Justice filed a lawsuit with the Superior Court of Justice in Ontario, Canada, against Brookfield Asset Management challenging this acquisition and transfer of assets.^[12] After five years of litigation the case was dismissed.^[13] On May 25, 2015, the plaintiffs filed a notice of appeal^[14] which was also dismissed.^[15]

By 2018, Brookfield's major public subsidiaries included Brookfield Infrastructure Partners, Brookfield Renewable Partners, Brookfield Property Partners, and Brookfield Business Partners^[16]

On March 13, 2019, Brookfield Asset Management announced that it had agreed to buy most of Oaktree Capital Management for about $4.7 billion, creating one of the world’s largest alternative money managers.^[17]

Finances

For the fiscal year 2017, Brookfield Asset Management reported earnings of US$1.317 billion, with an annual revenue of US$40.786 billion, an increase of 67.1% over the previous fiscal cycle. Brookfield Asset Management's shares traded at over $38 per share, and its market capitalization was valued at over US$40.8 billion in November 2018.^[18]

Year	Revenue in mil. USD$	Net income in mil. USD$	Total Assets in mil. USD$	Price per Share in USD$
2005	5,256	1,662	26,058	7.61
2006	6,897	1,170	40,708	12.17
2007	9,343	787	55,597	16.74
2008	12,868	649	53,611	13.22
2009	12,082	454	61,902	9.33
2010	13,623	3,195	78,131	13.76
2011	15,921	3,674	91,030	16.72
2012	18,697	2,747	108,644	18.69
2013	20,830	3,844	112,745	22.42
2014	18,364	2,956	129,480	27.22
2015	19,913	2,207	139,514	32.47
2016	24,411	1,518	159,826	32.10
2017	40,786	1,317	192,720	38.17

See also

Wikimedia Commons has media related to Brookfield Asset Management.

• 
  Edper Investments, the Bronfman holding company that controlled Brascan from 1979-1993.


• List of real estate companies of Canada

References

1. 
   ^ ^abcde "Brookfield Asset Management Reports 2017 Results" (PDF). Brookfield Asset Management. 31 December 2017. Retrieved 18 June 2018..mw-parser-output cite.citation{font-style:inherit}.mw-parser-output .citation q{quotes:"""""""'""'"}.mw-parser-output .citation .cs1-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/thumb/6/65/Lock-green.svg/9px-Lock-green.svg.png")no-repeat;background-position:right .1em center}.mw-parser-output .citation .cs1-lock-limited a,.mw-parser-output .citation .cs1-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/thumb/d/d6/Lock-gray-alt-2.svg/9px-Lock-gray-alt-2.svg.png")no-repeat;background-position:right .1em center}.mw-parser-output .citation .cs1-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/thumb/a/aa/Lock-red-alt-2.svg/9px-Lock-red-alt-2.svg.png")no-repeat;background-position:right .1em center}.mw-parser-output .cs1-subscription,.mw-parser-output .cs1-registration{color:#555}.mw-parser-output .cs1-subscription span,.mw-parser-output .cs1-registration span{border-bottom:1px dotted;cursor:help}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/thumb/4/4c/Wikisource-logo.svg/12px-Wikisource-logo.svg.png")no-repeat;background-position:right .1em center}.mw-parser-output code.cs1-code{color:inherit;background:inherit;border:inherit;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;font-size:100%}.mw-parser-output .cs1-visible-error{font-size:100%}.mw-parser-output .cs1-maint{display:none;color:#33aa33;margin-left:0.3em}.mw-parser-output .cs1-subscription,.mw-parser-output .cs1-registration,.mw-parser-output .cs1-format{font-size:95%}.mw-parser-output .cs1-kern-left,.mw-parser-output .cs1-kern-wl-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right,.mw-parser-output .cs1-kern-wl-right{padding-right:0.2em}
   


2. 
   ^ "Schedule 13D/A". U.S. Securities and Exchange Commission. Retrieved December 2, 2013.
   


3. 
   ^ "Bloomberg Markets". Bloomberg.com. Retrieved 2017-05-01.
   


4. 
   ^ "Global Presence". www.brookfieldproperties.com. Retrieved 2017-05-03.
   ^{[dead link]}
   


5. 
   ^ Kiesche, SA Editor Liz (2018-09-26). "Brookfield Asset Management sees excess cash ~$60B over 10 years". Seeking Alpha. Retrieved 2018-10-01.
   


6. 
   ^ Regehr, Theodore. "Mackenzie, Sir William". Dictionary of Canadian Biography. Retrieved December 8, 2013.
   


7. 
   ^ ^abc "Brascan Corporation History". International Directory of Company Histories. Retrieved December 8, 2013.
   


8. 
   ^ "INDUSTRIES: Business History of Utilities". Business History. Retrieved December 8, 2013.
   


9. 
   ^ Won, Shirley (September 16, 2005). "What's in a name? Plenty if it's Brascan". The Globe and Mail.
   


10. 
    ^ "Brazilian Traction Light and Power Company Ltd". Bloomberg L.P. Retrieved December 4, 2013.
    


11. 
    ^ "Birch Mountain names receiver" Archived 2014-04-11 at the Wayback Machine,Calgary Herald, Canada, 7 November 2008 Retrieved 22 July 2012
    


12. 
    ^ Gray, Jeff. "Squeezed-out Birch Mountain shareholders take on Brookfield",The Globe and Mail, Canada, 15 November 2011 Retrieved 22 July 2012
    


13. 
    ^ McDonald v Brookfield Asset Management Inc Archived 2015-09-23 at the Wayback Machine, 2015 ABQB 281
    


14. 
    ^ "In the Court of Appeal of Alberta/Citation: McDonald v Brookfield Asset Management Inc., 2016 ABCA 375" (PDF). 5 December 2016. Retrieved 1 June 2017.
    


15. 
    ^ "Case Developments" (PDF). Brookfield Class Action Website. Retrieved 1 June 2015.
    


16. 
    ^ Brewer, Reuben Gregg (2018-09-16). "Better Buy: Brookfield Infrastructure Partners L.P. vs. Brookfield Asset Management Inc". The Motley Fool. Retrieved 2018-10-01.
    


17. 
    ^ "Brookfield to Acquire 62% of Oaktree Capital Management". NASDAQ.com. Retrieved 2019-03-14.
    


18. 
    ^ "Reports & Filings". bam.brookfield.com. Retrieved 2018-11-07.
    

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