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鈥檚 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 .
Brookfield Asset Management (NYSE: BAM, TSX: BAM) has received approval to renew its normal course issuer bid, allowing the purchase of up to 37,123,295 Class A Voting Shares, representing 10% of its public float. The share repurchase program will run from January 13, 2025 to January 12, 2026 through the NYSE, TSX, and alternative trading systems.
As of December 31, 2024, BAM had 443,135,746 Class A Shares outstanding, with a public float of 371,232,957 shares. The maximum daily purchase limit on TSX is set at 251,030 shares. Under its previous program expiring January 10, 2025, BAM has not made any share purchases. All acquired shares will be cancelled or used for long-term incentive plans. The company has also implemented an automatic purchase plan to facilitate share buybacks during blackout periods.
Brookfield Renewable Holdings SAS has filed a simplified tender offer for Neoen shares and convertible bonds. The offer includes:
- EUR 39.85 per Neoen share
- EUR 48.14 per 2020 OCEANE bond
- EUR 101,382.00 per 2022 OCEANE bond
The offer will run for 21 trading days and follows Brookfield's acquisition of 53.12% of Neoen's shares. Brookfield holds directly and indirectly 82,250,985 shares (53.81% of capital and voting rights). The offer targets remaining shares and convertible bonds not held by Brookfield.
If conditions are met, Brookfield intends to implement a squeeze-out procedure within three months after closing for remaining securities not tendered to the offer. The offer is mandatory following Brookfield's crossing of the 30% ownership threshold.
Brookfield Asset Management (NYSE: BAM, TSX: BAM) has rescheduled its special meeting of shareholders to January 27, 2025, following Canada's mail service resumption. The virtual meeting will address two key resolutions: the approval of a corporate structure enhancement arrangement and increasing the board size from 12 to 14 directors.
The board unanimously recommends shareholders vote FOR the arrangement, with CEO Bruce Flatt abstaining. If approved, BAM plans to obtain a final order from the Supreme Court of British Columbia on January 30, 2025, with the arrangement expected to close in February 2025.
The board expansion aims to add U.S.-based directors, reflecting BAM's substantial U.S. operations, enhance board oversight capabilities, and improve diversity of skills and experience.
PosiGen has secured an additional $200 million funding commitment from Brookfield Asset Management through its high-yield infrastructure debt platform. This marks Brookfield's third investment, bringing their total commitment to $600 million since 2023 to support PosiGen's deployment of rooftop solar projects.
The funding will support new projects, including those driven by PosiGen's direct sales and channel partner platform. PosiGen, a Certified B , focuses on providing renewable energy and energy efficiency solutions to underserved communities by eliminating traditional barriers like credit score requirements and income thresholds.
Summit Broadband has secured an additional $100 million debt facility and term expansion from Brookfield Asset Management to accelerate its Florida expansion. The company, backed by Grain Management, operates a 5,000 route-mile fiber network and aims to enhance services for existing customers while expanding its residential and commercial fiber network footprint.
Under CEO Kurt Van Wagenen's leadership since 2023, Summit Broadband has invested in expanding its leadership team, upgrading its network infrastructure, enhancing customer experience, and launching new products, while improving profitability and growing revenue. The new funding will support growth in both established residential and expanding commercial segments.
Tiger Infrastructure Partners announced a minority equity investment in Strategic Venue Partners (SVP) by Brookfield Asset Management and its institutional partners. Additionally, there is a material upsizing of SVP's existing Revolving Credit Facility involving current and new commercial bank lenders. These transactions are aimed at leveraging the increasing demand for in-building wireless (IBW) infrastructure.
SVP CEO Justin Marron highlighted the strategic importance of this investment and the expanded credit facility, noting that it validates the rising market demand for SVP's unique wireless connectivity-as-a-service model. SVP provides comprehensive lifecycle management of wireless systems, important for functions across various sectors, including healthcare, hospitality, and higher education.
Emil W. Henry, Tiger Infrastructure CEO, emphasized the value generated by the partnership with Brookfield. Marc H. Blair, COO of Tiger Infrastructure, noted SVP's strong growth in 2024, which includes expanding infrastructure assets and entering new markets. Brookfield's Managing Director Hamish Kidd expressed confidence in SVP's efficient and scalable business model.
Orthopedic Care Partners (OCP) has appointed Dr. Tim Corvino as CEO and secured significant financing, including a $185 million strategic investment from Brookfield Asset Management and a $358 million senior debt refinancing led by TPG Twin Brook Capital Partners. The refinancing extends and reduces the interest rate on existing credit facilities while providing additional revolving credit and delayed draw term loan options.
OCP, backed by Varsity Healthcare Partners, operates across five states with 136 physicians, 42 clinical locations, and six ambulatory surgery centers. Dr. Corvino, formerly CEO of Spire Orthopedic Partners and COO of Covenant Physician Partners, will lead the company's expansion into new markets and focus on enhancing patient care.
Brookfield Asset Management, managing over $1 trillion in assets, has opened a new office hub in Paris to strengthen its French market presence. The company, which has been investing in France since 2015, employs over 7,000 people through its operations spanning digital infrastructure, renewable energy, and real estate sectors.
A significant development includes Brookfield's planned acquisition of a 53% stake in Neoen, a Paris-based renewable energy leader, with a total equity value of 鈧�6.1 billion. The transaction's first stage is expected to close this year, followed by a tender offer for remaining shares in early 2025.
Brookfield's French portfolio includes investments in Data4 (data centers), HomesServe (residential decarbonization), Castignac (logistics), UXCO Group (student housing), Experimental Group (hospitality), and TDF (communication towers). The company manages approximately 鈧�180 billion of assets across Europe.
Brookfield Asset Management (NYSE: BAM, TSX: BAM) has announced that CEO Bruce Flatt will present at the Goldman Sachs US Financial Services Conference on Wednesday, December 11, 2024, at 10:40 a.m. ET. The presentation will be accessible through a live webcast, with the link available in the 'Events' section of Brookfield's investor relations website at www.bam.brookfield.com.
Brookfield Asset Management (NYSE: BAM, TSX: BAM) announced a delay in its special shareholder meeting, originally scheduled for December 20, 2024, due to a Canadian postal strike preventing the mailing of meeting materials. The company is working with regulators to meet requirements and maintains its goal of closing the previously announced arrangement in Q1 2025. The record date for shareholder voting eligibility remains November 12, 2024. The new meeting date will be announced via SEDAR+ and EDGAR, along with detailed information in the upcoming information circular.
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