|Bid||61.60 x 0|
|Ask||61.67 x 0|
|Day's Range||61.62 - 62.33|
|52 Week Range||48.91 - 62.86|
|Beta (3Y Monthly)||1.08|
|PE Ratio (TTM)||18.13|
|Forward Dividend & Yield||0.84 (1.35%)|
|1y Target Est||52.00|
It comes down to potential conflicts of interest between the parts of Brookfield that buy public companies and those that trade stocks and bonds. The potential for conflict becomes even greater with the addition of Oaktree, because it has a bigger business in public securities. It’s totally walled off from the other parts of Brookfield and it doesn’t share information,” Flatt said Thursday in an interview with Bloomberg Television in New York.
BROOKFIELD, NEWS, March 20, 2019 -- Brookfield Asset Management Inc. (TSX: BAM.A, NYSE: BAM, Euronext: BAMA) today announced that after having taken into account all election.
One of India’s storied hotel brands, Leela, is going to the house of Canadian company Brookfield Asset Management, along with four of five Leela hotels owned by insolvent Hotel Leelaventure. The deal was disclosed by Hotel Leelaventure in a stock exchange filing earlier this week. A Brookfield-sponsored private real estate fund will pay $576.4 million […] The post Can India’s Leela Hotel Brand Be the Same Under Asset Manager Brookfield? appeared first on Skift.
India's Hotel Leela Venture Ltd will sell four of its hotels and a property to a fund sponsored by Canada's Brookfield Asset Management for 39.50 billion rupees ($576.41 million), as part of its restructuring, it said on Monday. The company will sell four Leela hotels at Bengaluru, Chennai, Delhi and Udaipur and its property in Agra to Brookfield. The proceeds of the deal, which will also see the company's owners transfer the 'Leela' brand to Brookfield for all hospitality businesses, will be used to repay existing lenders of the company, Hotel Leela Venture said in a statement https://www.nseindia.com/corporate/HOTELEELA_18032019171014_BMoutcome18032019sw_156.pdf.
(Reuters) - India's Hotel Leela Venture Ltd said on Monday it would sell four of its hotels and a property to a fund sponsored by Canada's Brookfield Asset Management for 39.50 billion rupees ($576.41 ...
Brookfield Asset Management Inc. said it will buy most of Oaktree Capital Management in a roughly $4.8 billion deal. Los Angeles-based Oaktree is one of the company's considering a bid to run St. Louis Lambert International Airport.
PE Daily: Brookfield Buys Stake in Oaktree | Democrats Target Carried Interest Good day! The newly reconstituted Congress may not have been in session that long, but Democrats in both the House and the Senate are putting private equity on notice.
(Bloomberg) -- Bruce Flatt put Wall Street’s biggest private equity players on notice that the Canadian juggernaut was coming for them three years ago.
The decision by Oaktree, led by distressed debt investor Howard Marks, to sell a majority stake of itself comes after a sustained period in which its stock has underperformed the broader market. Oaktree's stock is down around 13 percent in the last five years, even after a price bump on Wednesday following the deal's announcement. By comparison, the S&P 500 Index is up more than 50 percent over the period and Blackstone's share price is up 4 percent.
has become one of the largest and most eclectic alternative investment houses. Its shares have surged more than six-fold since taking a pounding during the 2008 financial crisis. announced by the Toronto-based group this week to acquire a controlling stake in distressed debt specialist Oaktree Capital is designed to make it more resilient the next time a financial crisis strikes.
Brookfield Asset Management Inc. is buying a majority stake in Oaktree Capital Management, bringing an end to the credit-investment firm’s six-year run as a public company. Brookfield will buy about 62% of the Oaktree business, acquiring all outstanding shares of its publicly traded common stock for $49 in cash, or 1.077 Brookfield shares. Oaktree’s preferred shareholders, which primarily consist of its co-chairmen, Howard Marks and Bruce Karsh, their fellow co-founders and other management and employees, will also sell 20% of their nonpublicly traded preferred shares to Brookfield for the same price.
Alternative asset managers are under pressure to broaden their offerings as institutional investors seek to make big allocations to fewer firms. While Ares Management Corp. and Apollo Global Management built businesses around their credit expertise and Carlyle Group LP and KKR & Co. held sway as buyout shops, they have evolved to expand into other areas of alternatives. “Since people are driving in the direction of doing more things with fewer managers, strategic partnerships are going to be a theme for the future,” Howard Marks, Oaktree’s co-chairman, said in a telephone interview Wednesday.
Oaktree co-founder Howard Marks will sit on Brookfield’s board alongside Chief Executive Officer Bruce Flatt. The combined group will include at least one other billionaire, Oaktree co-Chairman Bruce Karsh. The deal, expected to be completed in the third quarter, will end more than two decades of independence for Marks and Karsh, whose firm managed $120 billion of assets at the end of 2018 but still found itself dwarfed by some competitors like Blackstone Group LP.
Brookfield will acquire a 62 percent stake in Oaktree in a cash and stock deal worth roughly $4.7 billion, the companies said Wednesday in a statement. Today’s deal creates such a one-stop-shop: it bolsters the credit business of Brookfield, which has traditionally focused on real estate, and provides Oaktree, a specialist in distressed debt, exposure to assets that thrive outside turbulent economic times.
Brookfield will acquire all outstanding Oaktree Class A units for either $49 per share in cash or 1.0770 Brookfield Class A shares, as well as 20% of Brookfield's class B shares. The purchase price represents a near 12% premium over Oaktree's Tuesday closing price and a nearly 16% premium over the stock's 30-day volume-weighted average price. "As we continue to strategically grow Brookfield, we are thrilled to be partnering with Oaktree and with its exceptional management team whose credit business is second to none," said Brookfield CEO Bruce Flatt.
Brookfield Asset Management Inc. (“Brookfield”) (NYSE: BAM, TSX: BAM.A, Euronext: BAMA) and Oaktree Capital Group, LLC (OAK) (“Oaktree”) today announced an agreement whereby Brookfield will acquire approximately 62% of the Oaktree business. As part of the transaction, Brookfield will acquire all outstanding Oaktree Class A units for, at the election of Oaktree Class A unitholders, either $49.00 in cash or 1.0770 Class A shares of Brookfield per unit (subject to pro-ration).
Howard Marks has always respected value-seeking investors. Oaktree may find itself more at home within a larger asset management group. Alternative asset managers like Oaktree never caught on as an investment, with public market investors turned off by their complexity and unpredictable earnings stream.