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  • Brookfield Decides to Spin Off Its Asset-Management Unit

Brookfield Decides to Spin Off Its Asset-Management Unit

Author: admin January 16, 2023 21:32 January 16, 2023 69 views
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Brookfield will spin off its asset-management unit: source

New publicly traded entity will control Brookfield'south fee-generating avails, such equally real estate, infrastructure, credit, private equity and renewable energy

Author of the article:

Layan Odeh and Scott Deveau

May 10, 2022
•
11 hours ago
•
2 minute read
•




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Brookfield CEO Bruce Flatt.
Brookfield CEO Bruce Flatt.
Photo by Vincent Elkaim for National Postal service

Brookfield Asset Management Inc. plans to spin off its asset-management concern, according to a person familiar with the thing — a step designed to simplify the organizational construction at one of the earth’s largest alternative investment firms.

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The new publicly traded entity will command Brookfield’s fee-generating avails, such equally real manor, infrastructure, credit, private equity and renewable energy. The unit’s assets under direction were United states of america$364 billion as of Dec. 31.

The move will make the Toronto-based firm “asset-light,” a model preferred past investors, as it gives it the option to buy into the nugget management unit of measurement without taking a slice of its skyscrapers and gas pipelines. Before this yr, chief executive officeholder Bruce Flatt told investors that the unit could accept an equity value of as much as Us$100 billion.

A spokesperson for Brookfield declined to comment. Insider reported on the plans before.

Flatt said in February that the firm was weighing such a spinoff.

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“Its growth path on its own is very compelling,” Flatt said in an investor letter at the time. “Pure-play managers have been more in vogue across global markets because they are easier to value and have attracted higher multiples.”

  1. Elon Musk is taking over Twitter Inc.


    Brookfield’s venture uppercase arm cuts biggest cheque still for Elon Musk’s Twitter buyout

  2. Bruce Flatt, chief executive officer of Brookfield Asset Management Inc., in 2019.


    Brookfield weighs the value of a new pillar in its complex structure

  3. Brookfield Asset Management chief executive Bruce Flatt.


    Brookfield considers spinning off its asset management business in dramatic strategy shift

  4. A construction crane above Brookfield's Bay Adelaide North in Toronto on April 14, 2021.


    Brookfield sees ‘massive’ opportunity for investors in renewable energy assets

Brookfield, with United states of america$690 billion of assets under management, owns stakes in all its other publicly listed entities. Its balance sheet includes London’southward Canary Wharf, I Manhattan West in New York, equally well as numerous shopping malls, among other avails.

Brookfield has a history of building businesses and so listing them later they gain scale. Terminal year, for example, it spun off its reinsurance arm, Brookfield Asset Direction Reinsurance Partners Ltd., through a special dividend to shareholders. It did the same thing with its private equity unit, Brookfield Business Partners, and its renewable energy operations, Brookfield Renewable Partners, amidst others.

Shares of Brookfield rose ane.two per cent at 1:02 p.thou. in Toronto, paring their decline this yr to 20 per cent.

Bloomberg.com

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Source: https://financialpost.com/fp-finance/brookfield-will-spin-off-its-asset-management-unit-source

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