- Brookfield Asset Management
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Brookfield Asset Management, Inc. 
Type Public
(NYSE: BAM)
(TSX: BAM.A)Industry Asset Management Founded 1899 Headquarters Toronto, Ontario, Canada Area served Global Key people Frank J. McKenna
(Chairman of the Board)
J. Bruce Flatt (CEO)Services Financial services Revenue 
$13.623 bn (2010)Operating income $4,511.00 mn (2010) Net income $1,454.00 mn (2010) Total assets $121,559 bn (2010) Total equity $22,261 bn (2010) Employees 18,000 (2009)[1] Subsidiaries Brookfield Renewable Power
Brookfield Incorporações
Brookfield Office Properties Inc.
Brookfield Infrastructure Partners LPWebsite www.brookfield.com Brookfield Asset Management Inc. (TSX: BAM.A, NYSE: BAM) is a Toronto, Ontario-based asset management company that manages a global portfolio of assets valued at over $120 billion. The firm's assets are concentrated in the following sectors: real estate, renewable power generation, infrastructure and private equity.
The company was originally founded as a builder and operator of electricity and transport infrastructure in Brazil; the company's earlier name of "Brascan" reflected this history ("Brasil" + "Canada"). The company provided electricity and tram services in Sao Paulo and Rio de Janeiro, and was known as "The Light," short for Brazilian Traction, Light and Power Co. Ltd. Over the past century, the company expanding steadily, and is now an owner and operator of $150 billion of real assets, with a focus on property, renewable power and infrastructure. Brookfield's public subsidiairies include Brookfield Office Properties, based in New York, Brookfield Infrastructure Partners, Brookfield Renewable Power, Brookfield Office Properties Canada, Brookfield Residential Properties and Brookfield Real Estate Services.
Contents
Assets Under Management
- Property: $76 billion
- Power: $16 billion
- Infrastructure: $18 billion
- Public Securities: $21 billion
- Private Equity: $22 billion
- Development Activities: $15 billion
The company's asset management offerings include alternative-type investments, structured financial products, traditional fixed income and equities and finite-risk reinsurance. Its financial services group, Brookfield Financial, provides advisory services, acquisition financing, bridge loans and project financing. In addition, Brookfield Asset Management owns a significant stake in a real estate services company offering home relocations, property appraisals, move-in services and home transaction closing services, and capital market services, including financial advisory, securities underwriting, and property brokerage. Brookfield Asset Management's clients mainly include governments, institutions, corporations and high-net-worth individuals.
The company's corporate headquarters are located in Toronto and New York City.
Brookfield has $21 billion of assets under management in Canada, $66 billion invested in the United States, $16 billion invested in Australia and Asia, $15 billion in South America and $4 billion in Europe and the Middle East. Its major investments presently include the World Financial Center in New York, First Canadian Place in Toronto, PD Ports, Royal LePage, Transelec and Brookfield Renewable Power Fund.
It formerly controlled such major companies as Noranda Inc., Falconbridge Limited, Labatt, Royal Trust, Macmillan Bloedel and London Life.Recent Initiatives
- Led $8 billion restructuring of leading U.S. mall operator General Growth Properties
- $6.1 billion acquisition of Multiplex Group (property and funds management businesses)
- Spin-out of publicly-traded company focused on owning and managing infrastructure operations (Brookfield Infrastructure Partners)
- Merged Brookfield Infrastructure Partners with Australia's Prime Infrastructure in $1 billion transaction
- Completed acquisition of Longview Fibre Company, expanding timberlands platform to 2.5 million acres (10,000 km²)
- Raised more than $18 billion of third party capital in 2010 in targeted sectors
- Run 21 private funds for institutional clients
History
- 1899: The São Paulo Railway, Light and Power Company was founded by William Mackenzie, Frederick Stark Pearson and others (the word "Railway" would later be changed to "Tramway").
- 1904: The Rio de Janeiro Tramway, Light and Power Company was founded by Mackenzie's group.
- 1912: Brazilian Traction, Light and Power Company Limited is incorporated in Toronto as a public company to develop hydro-electric power operations and other utility services in Brazil, becoming a holding company for the two previous companies.
- 1916: Great Lakes Power Company Limited is incorporated to provide hydro-electric power in Sault Ste. Marie and the Algoma District in Ontario.
- 1966: Brazilian Traction, Light and Power Company Limited changes its name to Brazilian Light and Power Company Limited.
- 1969: Brazilian Light and Power Company Limited changes its name to Brascan Limited (BL).
- 1979: the company's Brazilian assets are transferred to Brazilian ownership (e.g., Eletropaulo and Light S.A.), the company meanwhile having diversified to other areas
- 2005: changes its name to Brookfield Asset Management (BAM).
See also
- Brookfield Infrastructure Partners
- Brookfield Properties
References
- ^ Brookfield Asset Management, 2009 Annual Report
External links
Categories:- Companies listed on the New York Stock Exchange
- Companies listed on the Toronto Stock Exchange
- S&P/TSX 60 Index
- S&P/TSX Composite Index
- Companies based in Toronto
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