Author Topic: BAM - Brookfield Asset Management  (Read 244288 times)

khturbo

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Re: BAM - Brookfield Asset Management
« Reply #780 on: November 26, 2018, 12:16:54 PM »
Anyone have the link where we can see how much BPY BAM is buying? I saw it once but can't seem to find it again.


cubsfan

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Re: BAM - Brookfield Asset Management
« Reply #781 on: November 26, 2018, 12:27:47 PM »
Anyone have the link where we can see how much BPY BAM is buying? I saw it once but can't seem to find it again.

Subsequent to the closing of the GGP acquisition by BPY, we have started to buy units of BPY in the open market. To date we have acquired approximately $200 million of units, with the Price to Value discrepancy of approximately $10 per unit. On just this acquisition of $200 million of units, we added $100 million to the Value of the equity in BAM.

https://bam.brookfield.com/~/media/Files/B/BrookField-BAM-IR/letters-to-unitholders/2018/Q3/F%20-%20BAM%20Q3_2018_Ltr_to_Shareholders.pdf

Is this what you are referring to..?

John Hjorth

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Re: BAM - Brookfield Asset Management
« Reply #782 on: November 26, 2018, 12:52:30 PM »
Perhaps the link in post #734 by OnTheShouldersOfGiants?
”In the race of excellence … there is no finish line.”
-HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai

khturbo

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Re: BAM - Brookfield Asset Management
« Reply #783 on: November 27, 2018, 06:35:45 AM »
Ah, yes John thank you. That's exactly what I was looking for. Seems like they were buying at a good pace a couple of weeks ago. I really like this move. I try to estimate fair value for each of the listed partnerships and it seems clear enough that BPY is the cheapest of the three.

It also seems like purchases of BPY might be more accretive than repurchases of BAM, although that one's a bit more unclear to me. At any rate, it seems like a solid cash deployment option.

By the way, does anyone know of a way to kind of see exactly what they spend what they call their "cash available for distribution"? You can get a sense of what they're doing for example if they buy back stock the share count will go down or if they buy BPY on the open market their shares owned will go up, but I don't know of a way to figure it out with a bit more precision. It's obviously difficult since the consolidated financials have so many moving parts.

John Hjorth

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Re: BAM - Brookfield Asset Management
« Reply #784 on: December 03, 2018, 11:18:40 AM »
Ritzau via Boersen.dk [December 3rd 2018] : Media : Giants are bidding up to DKK 26 B for Ørsted subsidiary. [Unfortunately only in Danish.]

Brookfield is mentioned in the article as a bidder. The article appear undocumented. I haven't been able to find that particular Bloomberg News article mentioned.

Radius is the Ørsted subsidiary distributing power to customers primarily in the northern part of Sealand, strategically for sale by Ørsted.

My personal judgement here is, that most PE funds etc. won't stand a chance here as bidder, based on the political sentiment here in Denmark after the dividend cases etc. related to Macquarie investing in Copenhagen Airport and TDC. [Ørsted is state controlled, but listed.]
« Last Edit: December 03, 2018, 11:20:21 AM by John Hjorth »
”In the race of excellence … there is no finish line.”
-HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai

vince

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Re: BAM - Brookfield Asset Management
« Reply #785 on: December 03, 2018, 11:35:33 AM »
Ah, yes John thank you. That's exactly what I was looking for. Seems like they were buying at a good pace a couple of weeks ago. I really like this move. I try to estimate fair value for each of the listed partnerships and it seems clear enough that BPY is the cheapest of the three.

It also seems like purchases of BPY might be more accretive than repurchases of BAM, although that one's a bit more unclear to me. At any rate, it seems like a solid cash deployment option.

By the way, does anyone know of a way to kind of see exactly what they spend what they call their "cash available for distribution"? You can get a sense of what they're doing for example if they buy back stock the share count will go down or if they buy BPY on the open market their shares owned will go up, but I don't know of a way to figure it out with a bit more precision. It's obviously difficult since the consolidated financials have so many moving parts.

If you study their quarterly supplemental you should be able to figure it out, very informative with everything you need in that quarterly document

khturbo

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Re: BAM - Brookfield Asset Management
« Reply #786 on: December 04, 2018, 01:16:31 PM »
Yes I mean I think you can get broad strokes. You could see repurchase activity and any activity in buying / selling listed issuers but it would be tough beyond that I think as different valuations / debt levels move around. But point taken.

khturbo

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Re: BAM - Brookfield Asset Management
« Reply #787 on: December 06, 2018, 08:12:29 AM »
I haven't seen any BPY purchases in the last couple of weeks. I really hope they're buying in BAM units in bulk.

John Hjorth

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Re: BAM - Brookfield Asset Management
« Reply #788 on: December 06, 2018, 08:33:12 AM »
How do you interpret the large transactions on December 4th 2018, khturbo?
”In the race of excellence … there is no finish line.”
-HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai

rkbabang

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Re: BAM - Brookfield Asset Management
« Reply #789 on: December 06, 2018, 08:55:11 AM »
How do you interpret the large transactions on December 4th 2018, khturbo?

Large equal acquisitions and dispositions on the same day. It looks like exercising stock options for cash.