Author Topic: BAM - Brookfield Asset Management  (Read 541111 times)

cubsfan

  • Hero Member
  • *****
  • Posts: 2221
Re: BAM - Brookfield Asset Management
« Reply #1270 on: January 19, 2020, 03:53:18 PM »
Great interview - thank you for posting.


Xerxes

  • Sr. Member
  • ****
  • Posts: 361
Re: BAM - Brookfield Asset Management
« Reply #1271 on: January 19, 2020, 08:46:19 PM »
great interview, … kind of surprised why the head of OMERS would make that mistake about net income.
and there is part where he says net income is greater the all of Canadian banks.

that aside, great stuff

ValueMaven

  • Sr. Member
  • ****
  • Posts: 457
Re: BAM - Brookfield Asset Management
« Reply #1272 on: January 20, 2020, 06:33:04 AM »
Yes - I thought the same thing actually ... also the IRR comment

'We made 17% on this deal w/BAM' ... Flatt replied 'that's 17% IRR'

ValueMaven

  • Sr. Member
  • ****
  • Posts: 457
Re: BAM - Brookfield Asset Management
« Reply #1273 on: January 20, 2020, 11:08:56 AM »
FRANKFURT, Jan 20 (Reuters) - Thyssenkrupp has shortlisted three private equity consortia in the auction of its prized 15 billion euro ($16.62 billion) elevator business, people close to the matter said, adding that peer Kone could still submit a bid later this month.

A consortium of buyout groups Advent and Cinven, which are working with Germany's RAG Stiftung remain in the running as does a bidding team led by Carlyle and Blackstone, and a third group led by Brookfield, the people said.

Kone, which is working with private equity firm CVC, has been given time until January 27 to submit an offer, the sources said.

Thyssen and the bidders declined to comment or were not immediately available for comment.

Thyssenkrupp, under pressure after numerous profit warnings, needs to rake in cash by selling all or part of its elevator business, the world's fourth-largest industry player and by far the group's most profitable asset.

The group has launched a dual-track process for the division, which could result in a sale or a listing, but chances for the latter are seen dwindling as proceeds from a partial flotation might not be sufficient. ($1 = 0.9024 euros) (Reporting by Arno Schuetze, Christoph Steitz and Matthias Inverardi Additional reporting by Tom Käckenhoff Editing by Michelle Martin)

Rod

  • Full Member
  • ***
  • Posts: 221
Re: BAM - Brookfield Asset Management
« Reply #1274 on: January 20, 2020, 11:44:29 AM »
great interview, … kind of surprised why the head of OMERS would make that mistake about net income.
and there is part where he says net income is greater the all of Canadian banks.

that aside, great stuff

When he said 10% of $500B, I thought he might have been giving a rough estimate of the total return including BAM's clients, not just BAM.

chrispy

  • Sr. Member
  • ****
  • Posts: 405
Re: BAM - Brookfield Asset Management
« Reply #1275 on: January 21, 2020, 11:28:28 AM »
Fun interview.

Someone at BAM needs to help Bruce start his sentences with more then, "look, what I'd say is"

So what ways are there to invest more directly in India?!

villainx

  • Sr. Member
  • ****
  • Posts: 299
Re: BAM - Brookfield Asset Management
« Reply #1276 on: January 21, 2020, 05:12:45 PM »
Fun interview.

Someone at BAM needs to help Bruce start his sentences with more then, "look, what I'd say is"


I love that bit of his personality.  It's either say that or beat the interviewer with a baseball bat.

petec

  • Hero Member
  • *****
  • Posts: 2459
Re: BAM - Brookfield Asset Management
« Reply #1277 on: January 23, 2020, 08:38:22 AM »
Hi all. Accounting question.

My understanding is that BPY revalues its properties regularly, using DCFs, such that book value ought to be a good proxy for equity value. However, BIP accounts for concessions as intangible assets which are amortised over time. Presumably the starting value of the intangible is set by the price paid, so that in effect BIP accounts for many of its assets using amortised cost and book value is not a good proxy for equity value.

1) Have I understood this correctly?
2) If so, is there are quick and dirty way to mark BIP's book value to market in the way IFRS does for BPY?
FFH MSFT BRK BAM ATCO LNG IHG TFG CGT DC/A

racemize

  • Lifetime Member
  • Hero Member
  • *****
  • Posts: 2771
Re: BAM - Brookfield Asset Management
« Reply #1278 on: January 23, 2020, 03:17:25 PM »
Hi all. Accounting question.

My understanding is that BPY revalues its properties regularly, using DCFs, such that book value ought to be a good proxy for equity value. However, BIP accounts for concessions as intangible assets which are amortised over time. Presumably the starting value of the intangible is set by the price paid, so that in effect BIP accounts for many of its assets using amortised cost and book value is not a good proxy for equity value.

1) Have I understood this correctly?
2) If so, is there are quick and dirty way to mark BIP's book value to market in the way IFRS does for BPY?

1) Yes, and most analyst reports have NAV value within 10% of BPYs book value.
2) Not that I know of. I usually use a multiple of adjusted AFFO.

ValueMaven

  • Sr. Member
  • ****
  • Posts: 457
Re: BAM - Brookfield Asset Management
« Reply #1279 on: January 25, 2020, 02:52:18 PM »
Anyone paying attention to Brookfield Renewable's C-Corp offering sometime in 1H2020?  Could be extremely interesting