Brookfield Asset Management Voting Ord Shs Class A BKFDF

Primary Symbol: T.BAM Alternate Symbol(s): T.BN.P.F | BKAMF | T.BN.P.X | T.BN.P.G | T.BN.P.Z | T.BN.P.H | BRCFF | T.BN.P.I | BROXF | T.BN.P.J | T.BN.P.K | T.BN.P.A | BAM | BKFOF | T.BN.P.L | T.BN.P.B | BKFPF | BRPSF | T.BN.P.M | BRFPF | T.BN.P.C | BAMGF | T.BN.P.N | T.BN.P.D | BAMKF | T.BN.P.R | BKFAF | T.BN.P.E | BXDIF | T.BN.P.T

Financial Services Asset Management

Brookfield Asset Management Ltd. is primarily engaged in providing alternative asset management services. The Company provides its services through an ownership interest in an alternative asset management business, which is carried on by Brookfield Asset Management Inc. (Brookfield) and its subsidiaries. Its products have three categories, which include long-term private funds, perpetual strategies and liquid strategies. The Company's wholly owned subsidiaries include 2451634 Alberta Inc. and Brookfield UK Employee Co Limited. Brookfield is a global alternative asset manager with assets under management across real estate, infrastructure, renewable power and transition, private equity and credit. Brookfield offers a range of alternative investment products to investors around the world, including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies and private wealth investors.

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Brookfield Asset Management Voting Ord Shs Class A > precurser of more bad results

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Comment by LongoGlueStickon Nov 18, 2023 2:04pm

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Post# 35742713

RE:precurser of more bad results

CarsT1 wrote: see Blackstone's results in today's announcement-

Blackstone Inc., grappling with higher interest rates and stung by a pullback in dealmaking, reported a 12% decline in quarterly profit available to shareholders.

Distributable earnings for the third quarter totaled $1.21 billion, or 94 cents a share, missing the $1.01 average estimate of analysts surveyed by Bloomberg. That was roughly in line with Blackstone’s second-quarter profit, which was the lowest in two years.

The firm, which oversees $1.01 trillion, is the first major US alternative asset manager to report third-quarter results. The returns laid bare the consequences of the Federal Reserve’s campaign to hike interest rates in its battle against inflation.

Would-be buyers are hesitant to do deals as debt costs rise, and private equity firms are holding on to assets rather than selling them in a shaky market. Blackstone’s fee-related earnings fell 5% as the company took in less from cashing out of deals. The amount of money it deployed for new deals dropped 60%.

Brookfield asset Management shares are up seven percent since you posted this.

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