Brookfield Asset Management Provides Insights and Strategy Updates at Annual Meeting of Shareholders

Event Summary:

• Annual Meeting of Shareholders for Brookfield Asset Management Ltd. BAM held on June 7, 2024.
• Mark Carney chaired the meeting, and Kathy Sarpash acted as Secretary.
• Shareholders could vote on resolutions via the live webcast platform.
• Four items of business were considered: financial statements, election of directors, appointment of external auditor, and advisory resolution on executive compensation.
• All proposed resolutions were passed, and the nominated directors were elected.
• Hadley Peer Marshall presented an update on the company's performance and outlook.

Drivers of Segment Performance:

• Financial results in the first full year as a separate public company.
• Raised $143 billion of capital, including $50 billion for Brookfield Reinsurance.
• Deployed nearly $60 billion of capital in large-scale deals and investments.
• Monetized over $30 billion of assets at attractive returns.
• Generated $4.4 billion in fee revenues with a 50% margin.
• No debt, $2.6 billion of cash on hand, and over $100 billion of investable capital.

Outlook and Inflection Points:

• Target to double fee-bearing capital to over $1 trillion by 2028.
• Expect to capitalize on global trends such as deglobalization, decarbonization, and digitalization.
• Anticipate growth through global fundraising capabilities, expanding credit group, and strategic initiatives.
• Flagship funds forecasted to grow over 10% in the next 5 years, contributing over $150 billion of fee-bearing capital.
• Insurance capital under management expected to grow to $250 billion by 2028.
• Credit group projected to grow to over $500 billion by 2028.

Specific Products and Inventory Changes:

• Record number of complementary funds in the market, around 50 additional strategies.
• Examples include Middle Eastern Partners fund, financial infrastructure fund, and Catalytic Transition Fund.
• Insurance solutions platform and credit group are significant growth drivers.
• Recent strategic transactions include a 51% stake in Castlelake and a partnership with Sequoia Heritage to launch Pinegrove Capital.

Insights from Answers to Analyst Questions:

• No questions were addressed as none were submitted by the attendees during the meeting.

Additional Notes:

• Dividend increased by 19% to $0.38 per share.
• Emphasis on the company's position to benefit from large global tailwinds and attract significant capital.
• Mention of strategic partnerships and acquisitions to support growth.
• Commitment to maintaining strong margins and a high dividend payout ratio.

This article was created with assistance from Tornado’s AI platform (ai.tornado.com).

For more information, visit Tornado.com 

All views expressed in this article are the authors' own and do not necessarily reflect the position of Nvstr Financial LLC dba Tornado (“Tornado”) or its affiliates. This communication is for discussion purposes only. Neither Tornado nor the authors endorse any linked content. Statements herein may not be representative of the typical experience of Tornado customers and are no guarantee of future performance or success. The contents of this article and of tornado.com are not investment advice or a recommendation of a securities transaction or investment strategy. Some Tornado content is prepared with assistance from generative AI technology. This is not an order, solicitation, or offer to buy or sell securities or business interests. Investing in stocks is inherently risky; using margin may increase these risks.

Tornado is a member firm of FINRA and SIPC. Further information can be found at tornado.com/about and on FINRA’s BrokerCheck website.

This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.