Author Topic: BAM - Brookfield Asset Management  (Read 510272 times)

ValueMaven

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Re: BAM - Brookfield Asset Management
« Reply #540 on: July 07, 2018, 05:38:05 PM »
To be more specific here, berkshire made some awesome purchases at amazing prices when Williams Co was looking to delever their balance sheet in 2001 or 2002.  KernRiver pipeline and compression facilties were a total steal b/c Williams needed cash and needed it quickly....I am very happy BAM picked these assets up vs. PE....but as noted above between Oncur and  the noted above, BRK has missed out on $10+ of Utility like assets, which were right in their circle of competence


Spekulatius

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Re: BAM - Brookfield Asset Management
« Reply #541 on: July 08, 2018, 05:11:59 AM »
To be more specific here, berkshire made some awesome purchases at amazing prices when Williams Co was looking to delever their balance sheet in 2001 or 2002.  KernRiver pipeline and compression facilties were a total steal b/c Williams needed cash and needed it quickly....I am very happy BAM picked these assets up vs. PE....but as noted above between Oncur and  the noted above, BRK has missed out on $10+ of Utility like assets, which were right in their circle of competence

The price may not have been right for BRK. BAM can pay more, because BIP foots the bill, while BAM cashes in  fees, so growth in size benefits BAM. I am also not sure that the assets are utility like, there are some gathering assets in the packet, which generally have a lower lifespan and are hence of lower quality.
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John Hjorth

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Re: BAM - Brookfield Asset Management
« Reply #542 on: July 08, 2018, 05:19:46 AM »
The price may not have been right for BRK. BAM can pay more, because BIP foots the bill, while BAM cashes in  fees, so growth in size benefits BAM. I am also not sure that the assets are utility like, there are some gathering assets in the packet, which generally have a lower lifespan and are hence of lower quality.

That's actually a very good point, Spekulatius. Also think about return expectations/hurdle rates for institutional clients participating in the infrastucture fund involved in this transaction.
« Last Edit: July 08, 2018, 05:27:48 AM by John Hjorth »
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racemize

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Re: BAM - Brookfield Asset Management
« Reply #543 on: July 08, 2018, 05:58:27 AM »
The price may not have been right for BRK. BAM can pay more, because BIP foots the bill, while BAM cashes in  fees, so growth in size benefits BAM. I am also not sure that the assets are utility like, there are some gathering assets in the packet, which generally have a lower lifespan and are hence of lower quality.

That's actually a very good point, Spekulatius. Also think about return expectations/hurdle rates for institutional clients participating in the infrastucture fund involved in this transaction.

IRR targets of BIP investments are 15%+, which they have pretty consistently hit.  Owner AFFO growth for BIP has been ~13% CAGR for 5 years, which you get a 4-5% div yield on top.  Anyway, I wouldn't put BIP as an 'asset gatherer', unless they are doing something very different than what they state and what their results have been historically.

rkbabang

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Re: BAM - Brookfield Asset Management
« Reply #544 on: July 09, 2018, 10:38:21 AM »
A Primer On Brookfield Asset Management, By Brian Langis
https://seekingalpha.com/article/4186043-primer-brookfield-asset-management#alt1

EricSchleien

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Liberty

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Re: BAM - Brookfield Asset Management
« Reply #546 on: July 12, 2018, 04:22:34 AM »
Brookfield Asset Management is investing in the Kushner Companies' flagship building just as its multibillion-dollar purchase of the nuclear company Westinghouse is under government review. More on what's at stake: https://nyti.ms/2uedy0J
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John Hjorth

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”In the race of excellence … there is no finish line.”
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saltybit

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Re: BAM - Brookfield Asset Management
« Reply #548 on: July 27, 2018, 10:28:45 AM »

RAFA1989

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Re: BAM - Brookfield Asset Management
« Reply #549 on: July 27, 2018, 10:46:29 AM »
GGP Press Release [July 26th 2018]: GGP Stockholders Approve Proposed Acquisition of GGP by Brookfield Property Partners.

Does anyone know why GGP is still trading below even the cash offer of 23.50? (currently at 21.28)

It's not all cash and I think there are some people afraid to own BPY or BPR shares.