Credit Suisse 01:59 PM EDT, 10/19/2020 (MT Newswires) -- Credit Suisse has kept its Outperform, and US$42.50 TP on Brookfield Asset Management (BAM) after the company announced a "strategic partnership" with the American Equity Investment Life Holding Company (AEL) as a cornerstone investor and reinsurance counterparty. BAM's cornerstone strategy involves an ultimate planned 19.9% AEL stake in two stages.
"Over the years, BAM had various exposure to insurance and reinsurance industries, but the current market environment may translate into a more interesting opportunity given growing real asset investment platforms and enhanced capital access," Credit Suisse says.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
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