Profile: Brookfield Asset Management Inc (BAMa.TO)
18 Apr 2019
Brookfield Asset Management Inc. (Brookfield), incorporated on January 1, 2005, is a global alternative asset manager. The Company owns and operates assets with a focus on property, renewable energy, infrastructure and private equity. The Company operates in eight segments: Asset Management, Property, Renewable power, Infrastructure, Private equity, Residential development, Service activities and Corporate activities. It manages a range of investment funds and other entities that enable institutional and retail clients to invest in the assets it focuses on. It earns asset management income, including base management fees, carried interests and other forms of performance income for doing so. This capital includes publicly listed partnerships that are listed on stock exchanges, as well as private institutional partnerships that are available to accredited investors, typically pension funds, endowments and other institutional investors. The Company also manages portfolios of listed securities through a series of segregated accounts and mutual funds.
The Company's Asset management operations consist of managing its listed partnerships, private funds and public markets on behalf of its clients. The Company earns base management fees for these activities, as well as performance income, including incentive distributions, based on profit sharing agreements. Brookfield also provides transaction and advisory services.
Brookfield's Property operations include the ownership, operation and development of office, retail, industrial, multifamily, hospitality and other properties. It owns interest in and operates commercial office portfolios, consisting of over 261 properties containing approximately 123 million square feet of commercial office space. The properties are located in various financial, energy, technology and government cities in North America, Europe, Australia, Brazil and India. The Company also develops office properties on a selective basis and its office development assets consist of interests in over 29 sites, totaling approximately 31 million square feet.
The Company's retail portfolio consists of interest in over 173 retail properties in the United States and Brazil, encompassing approximately 155 million square feet. Its North American retail operations are held through interest in General Growth Properties Inc. (GGP) and Rouse Properties. The Company also owns an interest in a retail property company in Shanghai, China. The Company holds interest in over 201 operating properties in North America and Europe, containing approximately 55 million square feet of space. It also owns and manages a land portfolio to build over 45 million square feet of industrial properties. The Company's multifamily portfolio includes over 38,800 multifamily units in the United States, while its hospitality portfolio includes over 27 properties with approximately 18,000 rooms. Its triple net lease portfolio consists of over 300 properties that are leased to automotive dealerships across the United States and Canada.
Brookfield's Renewable power operations include the ownership, operation and development of hydroelectric, wind power and other generating facilities. Brookfield holds its renewable energy operations through an interest in Brookfield Renewable Energy Partners L.P (BREP). BREP's renewable power portfolio has approximately 7,284 megawatts (MW) of installed capacity, and an average annual generation of approximately 25,543 gigawatt hour. This portfolio includes over 207 hydroelectric generating stations on approximately 73 river systems and approximately 37 wind facilities, diversified across over 14 power markets in the United States, Canada, Brazil and Europe.
Brookfield's Infrastructure operations include the ownership, operation and development of utilities, transport, energy, timberland and agricultural operations. Brookfield's infrastructure operations are held through its diluted interest in Brookfield Infrastructure Partners L.P. (BIP). BIP's operations include utilities operations, which consist of regulated distribution, regulated terminal and electricity transmission operations, located in Australasia, North and South America, and Europe; transport operations, which consist of open access systems that provide transportation for freight, bulk commodities and passengers, and these operations consist of businesses with regulated tariff structures, such as rail and toll road operations, as well as unregulated businesses, such as its ports, and energy operations, which consist of systems that provide energy transmission, distribution and storage services.
The Company's Private equity operations include the investments and operations overseen by its private equity group, which include both direct investments and investments made by the Company's private equity funds. Its private equity funds invest in a range of industries. Its private equity operations are conducted through a series of institutional private equity funds operated under the Brookfield Capital Partners brand. It owns interest in several businesses, including Norbord Inc. (Norbord).
The Company's Residential development operations consist of homebuilding, condominium development and land development. Its residential development operations consist of direct investments in two companies: Brookfield Residential Properties Inc. (BRP) and Brookfield Incorporacoes S.A. (BISA), as well as directly held operations in Australia. Its North American business is conducted through BRP. BRP is active in over 10 markets located in Canada and the United States, and controls approximately 103,000 lots in these markets. Its Brazilian business operations include land acquisition and development, construction, and sales and marketing of a range of for-sale residential and commercial office units, with a focus on middle-income residential.
Brookfield's Service activities include construction management and contracting services, and property services operations. The property services include global corporate relocation, facilities management and residential brokerage services.
The Company's Corporate activities include the investment of cash and financial assets, as well as the management of its corporate capitalization, including corporate borrowings and preferred equity, which fund a portion of the capital invested in the Company's other operations. Its corporate operations consist of allocating capital to its operating platforms, through the Company's listed partnerships (Brookfield Property Partners L.P. (BPY), BREP and BIP) and through directly held investments and interests in its private equity funds, as well as funding this capital through corporate borrowings and preferred shares. The Company also invests capital in portfolios of financial assets, and enters into financial contracts to manage its foreign currency and interest rate risks.
Brookfield Asset Management Inc
Brookfield Place, 181 Bay St C 3
PO Box 762
TORONTO ON M5J 2T3
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