Brookfield (BAM, BPY, BIP, BEP) June Update

Longview Sale: On June 16, 2013 Brookfield Asset Management announced the sale of Longview Timber and Longview Fibre Paper and Packaging for $3.675 Billion [Source]: Brookfield has agreed to sell 100% of Longview Timber to Weyerhaeuser Co. for $2.65 billion including the assumption of debt. Longview Timber consists of approximately 645,000 acres of high quality timberlands […]

Brookfield Asset Management (BAM) Investment Thesis, Part II

In Brookfield Asset Management (BAM) Investment Thesis Part I, five sources of value creation were discussed. Four of these sources have been in place for years. The fifth source, transforming to an asset manager, is the anticipated catalyst going forward. The transformation will help the market better recognize the outstanding performance and understand the value […]

Brookfield Infrastructure Partners, L.P. (BIP) 1Q13 Firing on All Cylinders

This is an excellent report.  Brookfield Infrastructure Partners, L.P. reported results [Source] for the quarter ended March 31, 2013 with funds from operations (FFO) totaling $160 million ($0.80 per unit) compared to FFO of $108 million ($0.58 per unit) in the first quarter of 2012 for a 48% increase in year-over-year FFO. The increase in FFO was […]

Brookfield Capital Partners (BCP) and Private Funds

Brookfield Asset Management’s fourth business platform consist of private equity and specialty funds managed under Brookfield Capital Partners (BCP) or the respective operating platform: property (BPY), renewable power (BREP) and infrastructure (BIP). Brookfield Capital Partners also includes Brookfield’s Residential Development interests, an opportunistic area of increased activity during the U.S. housing market downturn. The private funds are […]

Brookfield Infrastructure Partners (BIP)

The next step in the valuation of Brookfield Asset Management (BAM) is to understand the components of the company starting with Brookfield Infrastructure Partners (BIP). Brookfield Infrastructure Partners is the first major entity spun off in Brookfield Asset Management’s transformation to a global asset manager. BIP was launched in 2008 and operates infrastructure assets in North […]

Brookfield Asset Management (BAM) Investment Thesis, Part I

Brookfield Asset Management is criticized at times as being a company too complex to understand. Well, it is diverse but not too complex to understand. Management helps us with levels of disclosures and clarity of communications that can only be considered outstanding when compared to others. In the upcoming posts we will break the company down […]

Brookfield Asset Management (BAM) Delivers: Properties Spinoff Announced

Brookfield Asset Management Announces Spin-Off of Brookfield Property Partners [Source]: The spinoff of Brookfield Property Partners (BPY) is a special dividend to Brookfield Asset Management’s (BAM) shareholders of record as of March 26, 2013 and payable April 15, 2013. It is the last major step needed to complete the multi-year transformation from a sprawling international […]

Brookfield Asset Management (BAM) Impressive 4Q12 and 2012 Results

Brookfield Asset Management (BAM) reported [Source] impressive financial and operational performance for 2012, increasing cash flow and the intrinsic value significantly. The stage is set for solid future growth following the prudent expansion of both private and public asset management and attracting increasing capital to their highly desired real asset platforms. [Source]: BAM 4Q12 Supplemental […]

Brookfield Infrastructure Partners, L.P. (BIP) 4Q12 A Solid Report

The value created over the past few years continues to provide cumulative returns for the benefit of patient unit holders with a long term investing perspective. This is another solid report. I don’t think we could have asked for much more other than perhaps to wish more publicly traded companies were managed this well the owners. […]

Value by George Portfolio 2012 Results

Investment results for 2012, our first year, were good on an absolute and a relative basis when compared to the Standard & Poor 500. Calendar year and annualized results are presented below. The investments are made at the time the investment idea is posted. Because the portfolio was built over the course of the year it […]