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Brookfield Asset Management Ltd
Symbol BAM
Shares Issued 444,252,956
Close 2024-11-04 C$ 76.10
Market Cap C$ 33,807,649,952
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Globe says Brookfield Asset selling billions in assets

2024-11-05 07:42 ET - In the News

The Globe and Mail reports in its Tuesday, Nov. 5, edition that Brookfield Asset Management is capitalizing on a recovering market to sell billions in assets. The Globe's James Bradshaw writes that recently, Brookfield signed or closed $17-billion in asset sales, including $5.4-billion in real estate, as easing inflation and falling interest rates boost deal making (all figures U.S.). This is positive news for limited-partner investors, such as pension funds and family offices, looking for returns before committing to new funds. In the last quarter, Brookfield sold various properties, including shopping centres and an electricity facility in Britain, and an interest in a renewable-power provider in Spain and Portugal. Brookfield sees a strong monetization environment in the renewable sector for cash-generating assets with growth potential, according to president Connor Teskey. He said: "[Looking ahead] we expect monetization activity to further accelerate next year. We are thrilled to crystallize some fantastic returns and send capital back to our LP partners. That's why we do this." Brookfield anticipates that an increase in asset sales will also enhance its fundraising efforts.

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