BAM! It's Brookfield (Issue #30)
Brookfield Asset Management (NYSE: BAM — $62.22b) is the overarching umbrella of Brookfields many branches. These include things like Commercial Real Estate, Renewable Energy, and more. Boston Omaha (BOC) has said they think of themselves a mini-Brookfield as opposed to a mini-Berkshire.
Brookfield has a total of $750B in AUM across 30 countries and over 180,000 employees makes this company gigantic. However, Brookfield is still growing and expanding within their branches and number of branches. For example, they launched Brookfield Reinsurance in 2020 and it was at $50B in assets by end of year 2021.
Brookfield’s two other publicly traded branches are Brookfield Renewable (BEP) and Brookfield Infrastructure (BIP). They have market caps of $7.74B and $21.37B (respectively). Asset Management owns 38% of the renewables business and 28% of the infrastructure business. This is a combined $8.92B in these companies not including their ~$35B Real Estate business or the Asset Management, Private Equity and Reinsurance Businesses.
Recently Brookfield announced they will be separating their Asset Management business into it’s own public company through a tax free spinoff.
Portfolio Updates:
Liberty Formula One Group (FWONK): It was recently announced that RedBull Racing exceeded the cost cap in 2021, the year they won the drivers championship. Punishment for this offence of breaking the the $145M by “less than 5%” or $7.5M has yet to be determined. It has been reported that the overage was spent on catering for the team. I guess RedBull ate enough brain food to win the championship. As of Suzuka (the most recent race) Max Verstappen won the driver’s championship for RedBull this year too, congrats to him.
Follow this link for more details on the spreadsheet below.
Meme Of The Week:
Until Next Week,
Soren