Author Topic: BAM - Brookfield Asset Management  (Read 558423 times)

gokou3

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Re: BAM - Brookfield Asset Management
« Reply #1700 on: October 16, 2020, 11:54:25 AM »
Quote
BROOKFIELD ASSET MANAGEMENT ISSUES US$400 MILLION INAUGURAL GREEN SUBORDINATED NOTES
BROOKFIELD, NEWS, Oct. 16, 2020 (GLOBE NEWSWIRE) -- Brookfield Asset Management Inc. (“Brookfield”) (TSX: BAM.A, NYSE: BAM) today announced the closing of its public offering of 4.625% subordinated notes due October 16, 2080 (the “notes”). The size of the offering was US$400 million.

60 years, wow.


chrispy

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Re: BAM - Brookfield Asset Management
« Reply #1701 on: October 16, 2020, 12:42:19 PM »
I believe BBU high water mark before fees kick back in is like $47 too.

60yr bonds is incredible. Seems like this could be deployed in BPY too if it is for a green investment

petec

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Re: BAM - Brookfield Asset Management
« Reply #1702 on: October 16, 2020, 12:57:00 PM »
I believe BBU high water mark before fees kick back in is like $47 too.

60yr bonds is incredible. Seems like this could be deployed in BPY too if it is for a green investment

Not sure I follow? Surely if it’s raised at BAM it’s deployed at BAM?
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petec

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Re: BAM - Brookfield Asset Management
« Reply #1703 on: October 16, 2020, 12:59:42 PM »
Had sold off the BIPC + BEPC spinoffs and re-deployed mostly back into BAM at current prices.

Still have the original BIP.UN + BEP.UN. The latter I was lucky enough to get in on it at its bottom back in Dec 2018 and has been blockbuster since.

On a different note, I don't know if anyone listened to BBU at the AGM. find it interesting that these guys deployed heavily, nearly $500 million back in March-April. And now are mostly up 100% on that investment. For a $3.5 billion market cap business that is good. Of course the gains are somewhat offset by some of they private equity business being impacted. But they did what you expect them to do in a downdraft. Take action.

BBU’s presentation was hugely impressive. They nailed it - both with the deployment in March and the portfolio they had going in. Far more stable than I’d have assumed. BBU will be transformed by the next generation of realizations.
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petec

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Re: BAM - Brookfield Asset Management
« Reply #1704 on: October 16, 2020, 01:06:45 PM »
Thoughts on this?  I don't really follow BPY and don't mean to pile-on, but thought this was an interesting read:

https://assets.empirefinancialresearch.com/uploads/2020/09/BPY-BPYU-short-thesis-Dalrymple-Finance-9-20.pdf

Having finally read this properly, the main thing that stands out to me is actually just how many levers BAM is able to pull to provide capital to a subsidiary facing a temporary crisis. To my mind that reduces the short term risks and allows one to focus on the long term case.
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ValueMaven

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Re: BAM - Brookfield Asset Management
« Reply #1705 on: October 16, 2020, 01:08:45 PM »
Agreed.  This is one of my top stocks for the next 10-15 years.  Frankly - I wish they didn't pay a dividend, and used the cash-flow to retire o/s more aggressively post the oaktree acquisition (which was brilliant IMHO)

petec

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Re: BAM - Brookfield Asset Management
« Reply #1706 on: October 16, 2020, 01:15:08 PM »
Agreed.  This is one of my top stocks for the next 10-15 years.  Frankly - I wish they didn't pay a dividend, and used the cash-flow to retire o/s more aggressively post the oaktree acquisition (which was brilliant IMHO)

Agree Oaktree was brilliant. And the more I dig here the more I think they’ve created something very robust with multiple tailwinds and ways to win. I’m also really excited to see what they can do with insurance over time.
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ValueMaven

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Re: BAM - Brookfield Asset Management
« Reply #1707 on: October 18, 2020, 12:19:21 PM »
Brookfield Announces Strategic Partnership with American Equity Life

Well there we go ... that is the insurance deal that has been suggested.  Still processing this .. seems huge

https://bam.brookfield.com/press-releases/2020/10-18-2020-200019456

ValueMaven

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Re: BAM - Brookfield Asset Management
« Reply #1708 on: October 18, 2020, 12:21:48 PM »
'A reinsurance transaction through which Brookfield’s reinsurance and annuity subsidiary, Brookfield Asset Management Partners, will reinsure up to $10 billion in annuity liabilities, including an initial $5 billion of existing liabilities and up to an incremental $5 billion of future business when written.'


petec

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Re: BAM - Brookfield Asset Management
« Reply #1709 on: October 18, 2020, 01:28:20 PM »
I have a feeling this is just the start.
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