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Brookfield Asset Management Ltd. reports news on its role as a global alternative asset manager with strategies across infrastructure, energy, private equity, real estate and credit. Recurring updates cover fundraising, fee-related earnings, capital deployment, monetizations and activity in flagship and complementary investment strategies for institutional and private wealth clients.
Company announcements also include strategic partnerships, operating-platform investments, completed acquisitions and governance matters. Brookfield’s recent corporate updates highlight its industrial real estate and logistics exposure, AI-related operating initiatives across its investment platform, shareholder voting results and capital actions tied to its public-company structure.
Brookfield Asset Management (NYSE: BAM) has filed its 2020 annual materials on Form 40-F with the SEC and Canadian authorities, including audited financial statements and management's analysis for the year ended December 31, 2020. The firm manages US$600 billion in assets across various sectors including real estate, infrastructure, and renewable power. Shareholders can request a free hard copy of the filings. Brookfield is a prominent global alternative asset manager, providing investment products to a diverse clientele.
Brookfield Asset Management has appointed Calin Rovinescu as a Senior Advisor in its private equity group. Rovinescu, former President and CEO of Air Canada, brings extensive experience in business transformation and financial performance. In his new role, he will focus on sourcing investment opportunities in the aviation and aerospace sectors. Brookfield, managing US$600 billion in assets, aims to leverage Rovinescu's expertise for enhancing its portfolio companies. His prior leadership roles and board memberships add significant value to Brookfield's strategy moving forward.
Brookfield Asset Management Inc. (TSX: BAM.A; NYSE: BAM) has announced the sale of 2,443,321 common shares in West Fraser Timber Co. Ltd. for total cash proceeds of $207,452,839 between March 1 and March 18, 2021. Post-sale, Brookfield's ownership in West Fraser decreased from 17.2% to approximately 15.2%. The disposition falls under regulatory early warning requirements, and Brookfield maintains the ability to adjust its investment in West Fraser based on market conditions. The firm manages $600 billion in assets globally.
Brookfield Asset Management has sold 2,667,011 common shares of West Fraser Timber Co. Ltd. for a total of $229,499,413, representing a reduction from 19.4% to 17.2% ownership. The sales were executed on the Toronto Stock Exchange, with share prices ranging from $83.00 to $91.51. Following these transactions, Brookfield retains 20,814,573 shares, indicating a 2.2% decrease in its stake. The company continues to monitor its investment strategy and may adjust its holdings based on market and economic conditions.
Brookfield Asset Management (NYSE: BAM) reported strong financial results for 2020, highlighting a record quarter in Q4. The company achieved a net income of $1.8 billion and funds from operations (FFO) of $2.1 billion for the quarter, driven by growth in fee-related earnings. Total FFO for the year stood at $5.2 billion. Brookfield raised $40 billion in third-party private fund capital while maintaining significant assets under management of $602 billion. A quarterly dividend of $0.13 per share was declared, marking an 8% increase. Looking ahead, Brookfield anticipates continued robust performance in 2021.
Brookfield Asset Management will hold a Conference Call and Webcast to discuss its 2020 Year End Results on February 11, 2021, at 11:00 a.m. ET. The financial results will be released earlier that day before 7:00 a.m. ET and can be accessed via their official website. The call can be joined by dialing specified numbers, and a replay will be available until February 18, 2021. Brookfield manages approximately US$575 billion in assets across various sectors, including real estate and infrastructure, and trades under the symbol BAM on North American exchanges.
Brookfield Asset Management (TSX: BAM.A; NYSE: BAM) announced the acquisition of 333,100 common shares of TransAlta Corporation for approximately $3.5 million, raising its ownership from 12.3% to 12.4% post-transaction. Each share was purchased at $10.56. Brookfield's commitment to TransAlta reflects its belief in the attractiveness of the investment opportunity.
Brookfield manages approximately $575 billion in assets across various sectors including real estate and renewable power.
Brookfield Asset Management has appointed Hutham Olayan to its board of directors. Olayan, Chair of The Olayan Group, is recognized for her extensive experience as a long-term investor across various asset classes. Brookfield's Chair, Frank McKenna, highlighted Olayan's contributions to enhancing board diversity, as her addition increases the number of female directors to six, forming a majority among independent directors. Brookfield manages approximately US$575 billion in assets across multiple sectors.
Brookfield Asset Management has proposed to acquire all remaining limited partnership units of Brookfield Property Partners at $16.50 per unit, totaling $5.9 billion. This offer represents a premium of 14.9% over BPY's last closing price and allows unitholders to choose between cash, Brookfield shares, or BPY preferred units. The proposal is subject to review by BPY's board and a special committee will assess the deal. If successful, this transaction will provide Brookfield with greater operational flexibility.
Brookfield Asset Management Inc. (BAM) announced fixed and floating dividend rates for its preference shares, effective January 1, 2021. Holders of the Series 44 Shares will receive a fixed quarterly dividend of 5.00% ($0.3125 per share), while Series 25 Shares will have a quarterly dividend of 2.30% plus 4.17% over three-month Government of Canada treasury bills. The quarterly dividend for Series 45 Shares will initially be 1.0551% (4.279% annualized), amounting to $0.263775 per share until March 31, 2021. The conversion option for Series 44 Shares remains available until December 16, 2020.