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Brookfield Asset Management Ltd. - $BAM STOCK NEWS

Welcome to our dedicated page for Brookfield Asset Management Ltd. news (Ticker: $BAM), a resource for investors and traders seeking the latest updates and insights on Brookfield Asset Management Ltd. stock.

Brookfield Asset Management Ltd. (NYSE: BAM, TSX: BAM) is a leading global alternative asset manager with over $900 billion of assets under management. Specializing in alternative asset management services, the company offers an extensive range of investment products to a diverse group of investors including public and private pension plans, endowments, foundations, sovereign wealth funds, financial institutions, insurance companies, and private wealth investors.

Brookfield's portfolio spans several key sectors such as renewable power and transition, infrastructure, private equity, real estate, and credit. The firm invests client capital for the long term with a focus on real assets and essential service businesses that support the global economy.

Recent achievements include a strategic partnership with Zoetis Inc. through a Virtual Power Purchase Agreement, powering a significant portion of the Heart of Texas Wind Farm. Brookfield has also been active in furthering its investment strategies; it has acquired a majority stake in Castlelake, an asset-backed private credit manager, and an additional 5% interest in Oaktree.

Financially, Brookfield is robust, with $107 billion in uncalled fund commitments as of December 31, 2023. The company continues to grow its fee-bearing capital and recently completed the acquisition of AEL through its reinsurance arm, managing an additional $50 billion of capital. Regular dividends are declared, reflecting the company’s commitment to rewarding its shareholders.

Brookfield operates with a philosophy of investing for value across economic cycles, drawing on its heritage as both an owner and operator to generate strong returns for its clients. The company also emphasizes sustainability, as evidenced by its leadership in renewable power and decarbonization solutions.

For more detailed information, visit the Brookfield Asset Management website at bam.brookfield.com.

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Brookfield Asset Management and Alterra Management have launched the Catalytic Transition Fund (CTF), targeting up to $5 billion to finance clean energy in emerging markets. The UAE-backed ALTÉRRA has committed $1 billion as the anchor investor. The fund aims to accelerate climate action and support the Paris Agreement goals, particularly in underserved regions. The CTF will invest in South and Central America, Asia, the Middle East, and Eastern Europe, aiming for a first close by the end of 2024. Brookfield, leveraging its strong track record, will manage the fund, with at least 10% capital contribution coming from Brookfield itself.

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Brookfield Asset Management (NYSE: BAM, TSX: BAM) announced the successful election of its board of directors during its annual shareholders' meeting on June 7, 2024. The virtual meeting saw all six nominees for both the Class A and Class B Voting Shares elected. Class A shareholders overwhelmingly supported their nominees with votes ranging from 93.18% to 99.85% in favor. Class B shareholders provided unanimous support, with 100% of votes cast for each nominee. Detailed voting results are available on SEDAR+.

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Brookfield Asset Management announced strong first-quarter results, with $20 billion raised in capital and $106 billion in dry powder for investments. Notable deals include a $50 billion asset management mandate with AEL and acquiring a majority stake in Castlelake. Fee-related earnings were $552 million, distributable earnings were $547 million. Fee-bearing capital reached $459 billion. $11 billion was deployed in investments, and recent strategic initiatives include acquiring AEL and Castlelake. The board declared a quarterly dividend of $0.38 per share.

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Scout Clean Energy, a Colorado-based renewable energy developer, has closed a $100 million equipment supply loan with Rabobank to fund equipment down payments for wind, solar, and storage projects. Managed by Brookfield Asset Management, Scout plans to increase the facility to $200 million and expand its partnerships. The financing aims to reduce capital costs, enhance competitiveness, and support Scout's growth in the renewable energy sector.

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Brookfield Asset Management (NYSE: BAM, TSX: BAM) is set to acquire a 51% interest in Castlelake's fee-related earnings, investing $1.5 billion in the firm's funds and strategies. The strategic partnership aims to grow Castlelake's asset-based private credit business and enhance its value proposition.

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SVB Financial Group announced the sale of SVB Capital to a Pinegrove affiliate backed by Brookfield Asset Management and Sequoia Heritage. The agreement includes cash and other considerations, allowing SVB Capital to operate independently while providing innovative capital solutions to clients. The transaction is subject to approval and is supported by key creditor groups.

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Scout Clean Energy signs a 12-year Virtual Power Purchase Agreement with Zoetis Inc. for a 50 MW portion of its Heart of Texas Wind Farm, supporting Zoetis' goal of carbon neutrality by 2030. The agreement will generate Renewable Energy Certificates and contribute to reducing emissions as part of the RE100 initiative.
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Brookfield Asset Management (BAM) will release its Q1 2024 financial results on May 8, 2024. An earnings conference call and webcast will follow to discuss the results and operations.
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Brookfield Asset Management announces a strategic partnership with Soundcore Capital Partners to accelerate growth for Heartland Paving Partners in the Upper Midwest market. This marks Brookfield's first investment through its private equity sponsor solutions strategy, aiming to provide bespoke solutions to mid-market buyout sponsors.
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Brookfield Asset Management announced the filing of its 2023 annual materials, including financial statements and management's discussion. Hadley Peer Marshall appointed as Chief Financial Officer effective May 31, 2024, succeeding Bahir Manios.
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FAQ

What does Brookfield Asset Management specialize in?

Brookfield Asset Management specializes in alternative asset management services, investing in real assets and essential service businesses across sectors including renewable power, infrastructure, private equity, real estate, and credit.

How much does Brookfield Asset Management have in assets under management?

Brookfield Asset Management manages over $900 billion in assets.

Who are Brookfield Asset Management's primary investors?

Brookfield's primary investors include public and private pension plans, endowments, foundations, sovereign wealth funds, financial institutions, insurance companies, and private wealth investors.

What recent strategic initiatives has Brookfield Asset Management undertaken?

Recent initiatives include a Virtual Power Purchase Agreement with Zoetis Inc., the acquisition of a majority stake in Castlelake, and an additional 5% interest in Oaktree.

What is Brookfield's focus in terms of investment philosophy?

Brookfield focuses on long-term investments in real assets and essential service businesses, emphasizing value generation across economic cycles.

How much uncalled fund commitments does Brookfield Asset Management have?

As of December 31, 2023, Brookfield has $107 billion in uncalled fund commitments.

Does Brookfield Asset Management declare regular dividends?

Yes, Brookfield Asset Management declares regular dividends as part of its strategy to reward shareholders.

What is Brookfield's role in renewable energy?

Brookfield is a global leader in renewable power and decarbonization solutions, managing significant assets in wind, solar, and other renewable energy sources.

What major acquisitions has Brookfield recently completed?

Brookfield recently completed the acquisition of AEL through its reinsurance arm and a majority stake in Castlelake.

Where can I find more information about Brookfield Asset Management?

More information can be found on their website at https://bam.brookfield.com.

Brookfield Asset Management Ltd.

NYSE:BAM

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BAM Stock Data

14.85B
360.31M
15.09%
68.68%
4.1%
Portfolio Management
Finance and Insurance
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United States of America
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