Brookfield Asset Management Ltd.

Who owns Brookfield Asset Management?
Brookfield Asset Management is publicly traded (NYSE: BAM; TSX: BAM), but Brookfield Corporation owns approximately 73% of the company. The remaining approximately 27% is publicly traded and owned by institutional investors and individual shareholders.

Is Brookfield Asset Management publicly traded?
Yes, Brookfield Asset Management is publicly traded on both the NYSE and TSX under ticker BAM. The company was spun off from Brookfield Corporation in December 2022.

How much does Brookfield Asset Management manage?
As of 2024, Brookfield Asset Management manages approximately $1 trillion in fee-bearing capital across real estate, infrastructure, renewable energy, private equity, and credit.

What is the difference between Brookfield Asset Management and Brookfield Corporation?
Brookfield Corporation (NYSE: BN) is the parent company that owns and operates assets across real estate, infrastructure, renewable energy, and private equity. Brookfield Asset Management (NYSE: BAM) is a subsidiary that manages third-party capital for fees. Brookfield Corporation owns approximately 73% of Brookfield Asset Management.

When was Brookfield Asset Management founded?
Brookfield Asset Management Ltd. was founded as a separate publicly traded company in December 2022, when it was spun off from Brookfield Corporation. However, Brookfield's asset management operations have a much longer history, dating back to the 1990s.

What is Oaktree Capital Management?
Oaktree Capital Management is a credit-focused alternative asset manager that is majority-owned by Brookfield Asset Management. Oaktree was founded in 1995 by Howard Marks and manages approximately $190 billion in assets, primarily in credit strategies.

The history of Brookfield Asset Management is intertwined with the broader history of Brookfield Corporation, which traces its roots to the late 19th century.

Brookfield's origins date to 1899, when a group of investors established the Sao Paulo Tramway, Light and Power Company in Brazil. Over the following century, the company evolved through multiple transformations, eventually becoming Brascan Corporation in 1969 and then Brookfield Asset Management Inc. in 2005.

Under the leadership of Bruce Flatt, who became CEO in 2002, Brookfield transformed itself into one of the world's leading alternative asset managers. The company expanded its investment capabilities across real estate, infrastructure, renewable energy, and private equity, attracting institutional investors from around the world.

In 2022, Brookfield undertook a significant corporate restructuring. The company renamed itself Brookfield Corporation (NYSE: BN) and spun off its asset management operations as a separate publicly traded company called Brookfield Asset Management Ltd. (NYSE: BAM). The spin-off was completed in December 2022.

The rationale for the spin-off was to create a focused asset management company with its own public market identity, allowing investors to choose between owning the asset management business (BAM) or the broader operating company (BN). Brookfield Corporation retained approximately 73% of Brookfield Asset Management.

Connor Teskey was appointed CEO of Brookfield Asset Management at the time of the spin-off. Teskey had previously led Brookfield's renewable energy business.

In 2024, Brookfield Asset Management reached a significant milestone when its fee-bearing capital exceeded $1 trillion, establishing it as one of the world's largest alternative asset managers. The company also relocated its headquarters from Toronto to New York City in December 2024.

In FY2024, Brookfield Asset Management reported distributable earnings of approximately $2.2 billion, reflecting strong growth in fee-related earnings.

Brookfield Asset Management maintains a comprehensive sustainability approach focused on integrating environmental, social, and governance (ESG) considerations into its investment processes and operations. The company believes that value creation and sustainable development are complementary goals.

Environmental Commitments:

• Net Zero Target: Brookfield supports the ambition of reaching net-zero greenhouse gas emissions by 2050 or sooner across its operations and portfolio companies
• GHG Reporting: As of December 31, 2024, approximately three quarters of assets under management reported on their GHG scope 1 and 2 emissions, demonstrating comprehensive emissions tracking
• Resource Efficiency: The company strives to minimize environmental impact and improve efficient use of resources over time

Social Responsibility:

• Workplace Safety: Foster positive work environments with zero tolerance for discrimination and robust health and safety practices targeting zero serious incidents
• Human Rights: Operate based on respect for human rights, valuing diversity, and maintaining zero tolerance for workplace violence or harassment
• Community Engagement: Strive to ensure interests and well-being of communities where operations are located are integrated into business decisions

Governance:

• Ethical Standards: Conduct business according to the highest ethical standards following the Code of Business Conduct and Ethics
• Stakeholder Relations: Maintain strong relationships through transparency and active engagement with stakeholders
• Corporate Citizenship: Support philanthropy and volunteerism by employees and be good corporate citizens

Brookfield publishes an annual Sustainability Report detailing its ESG performance, initiatives, and progress toward sustainability goals.

Brookfield Asset Management has received recognition for its sustainability leadership and investment performance across its various business segments.

• ESG Leadership: Recognized for comprehensive ESG integration and sustainability reporting, with approximately 80% of invested assets reporting on GHG emissions
• Net Zero Commitment: Acknowledged for ambitious net-zero targets by 2050 and comprehensive emissions tracking across portfolio companies
• Sustainable Investing: Recognized for leadership in renewable energy investment and sustainable infrastructure development
• Industry Leadership: Consistently ranked among the world's largest alternative asset managers with over $1 trillion in fee-bearing capital

These awards reflect Brookfield's commitment to responsible investing practices and its position as a leader in sustainable alternative asset management.

Brookfield Asset Management and its affiliates have faced scrutiny related to several issues.

Brookfield's real estate investments have faced criticism in some markets, particularly related to its management of retail properties and office buildings. The company's ownership of Brookfield Place and other major commercial real estate assets has attracted attention during periods of market stress.

Brookfield's renewable energy investments have generally been viewed positively from an environmental perspective, though some specific projects have faced opposition from local communities.

The company's complex corporate structure, with multiple publicly traded entities and private funds, has been criticized by some investors as difficult to understand and potentially creating conflicts of interest.