| 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 LP |
| Website | 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 $150 billion. The firm's assets are concentrated in the following sectors: real estate, renewable power generation, infrastructure and private equity.
The Brookfield name was not widely known outside of investing circles until more recently when it came into the news mainstream as owners of Zuccotti Park, the home to the Occupy Wall Street movement.
Despite having assets valued at over $150 billion and $100 million in cash flow, Brookfield scored $168.9 million loan guarantee from the Department of Energy for a wind farm project, Granite Reliable in New Hampshire. The wind farm is already a subsidiary of Brookfield.
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.
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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.