Replies to post #216 on Brookfield Asset Management Inc (BAM)

[Investorman]

Brookfield Establishes C$1 Billion Fund to Provide Debtor-in-Possession Financing With the Backing of EDC, CIBC and Sun Life
August 19, 2009 10:00 AM ET

Brookfield Asset Management ("Brookfield") (TSX: BAM.A)(NYSE: BAM)(EURONEXT: BAMA) and Export Development Canada ("EDC") today announced that Brookfield has established a C$1 billion fund (the "Fund") with the backing of EDC to provide debtor-in-possession ("DIP") loans and other specialty finance solutions to Canadian companies undergoing a restructuring or reorganization.

Brookfield has committed to provide 10 per cent of the Fund's capital and will manage the Fund, identifying and evaluating investment opportunities. EDC played a lead role in structuring the Fund, and is the largest investor with an initial participation of C$450 million that could grow to C$1 billion.

"Brookfield's history of specialty bridge lending and expertise in corporate restructuring positions us well to provide tailored solutions to support companies through the restructuring process. We believe that providing financing for companies undertaking a restructuring will help viable enterprises emerge from the current recession in a strong competitive position," said Joe Freedman, the Senior Managing Partner responsible for the Fund at Brookfield.

DIP financing provides companies seeking protection from creditors with capital to continue to operate their business while they complete a plan of reorganization. The Fund will target mid-market and larger scale opportunities where at least C$20 million of financing is required.

"This Fund will help Canadian companies gain access to credit during restructuring, when it's most needed," said Eric Siegel, President and CEO of EDC. "This new partnership with Brookfield enables us to further assist even more Canadian companies during the current downturn."

Fund investors also include Canadian Imperial Bank of Commerce ("CIBC") and Sun Life Financial Inc.

"CIBC is pleased to be a part of this initiative which will help support Canadian companies in these uncertain economic times," said Laura Dottori-Attanasio, Global Head of Corporate Credit Products at CIBC.

[Investorman]

Babcock & Brown to recapitalize in Brookfield plan

TEL AVIV (MarketWatch) -- Babcock & Brown Infrastructure, the Sydney owner and manager of energy-distribution and transportation infrastructure in Australia and internationally, agreed to a recapitalization by Brookfield Asset Management Inc., the Toronto investment firm focused on power and property, the companies said on Thursday.

Under the terms, Brookfield will invest about US$1.1 billion in Babcock & Brown securities. The figure includes $555 million to $635 million in return for a 35% to 40% interest in a restructured Babcock & Brown Infrastructure; and $265 million for the purchase from Babcock & Brown of two interests: 49.9% of Dalrymple Bay Coal Terminal in Queensland, Australia, and 100% of the PD Ports business in northeast UK. And after buying PD Ports, Brookfield said it would repay $160 million of the ports business's debt

[Investorman]

From a Forbes article.......

I like Brookfield Properties Corporation ( BPO - news - people ) and Brookfield Asset Management.

These are two related companies. Brookfield Asset Management is a Canadian non-conglomerate that owns energy, timber and real estate and it owns a lot of what are known oil fans in Western Canada. It owns 50% of Brookfield Properties, which is the company that owns the World Financial Center and some really great buildings and has some good growth potential. It's just a very well-run, very high-quality company that also amassed a major investment fund worth about $4 billion to $5 billion from people who buy distressed assets. I think Brookfield is another good, long-term play at a reasonable value now. It doesn't have a great yield, I think it's certainly under 4%, so you don't buy that for its yield, but for its stability as a company.

[Investorman]

Forbes

Special Report
Special Report: The 100 Best Mid-Cap Stocks In America
Brian Zajac, 10.07.09, 6:00 PM ET


Mid-cap growth companies would be right up Goldilocks' alley: Not too hot and not too cold. They strike a sensible balance between small companies that might not be able to sustain their past performance and big companies that may be past their prime. This year's select list of 100 companies shows a unique combination of growth, financial stability and promising forecasts for the coming years.

The reason why this segment of the market should not be overlooked by investors is evidenced in our historical price charts comparing the stock performance of Standard & Poor's indexes representing three different size categories of the stock market over one-year, five-year and 10-year periods.

Mid-cap stocks have more than held their own in this volatile market. Through Sept. 28, the S&P MidCap 400 index shows a 0.8% decline for the past 12 months. Over the same period, the large-cap S&P 500 and the S&P SmallCap 600 indexes show declines of 4% and 8%, respectively. For the past five years, the annualized price return of the S&P MidCap 400 Index is 3.2%. That compares to a 2.0% gain for the S&P SmallCap 600 index and a 0.9% decline in the S&P 500 index over the same time period.

Forbes' fifth annual listing of the Best Mid-Cap Companies in America reflects an elite group of 100 firms that have demonstrated better profitability and growth than their peers. Our portfolio of best mid-caps from last year, despite tough market conditions, slightly outperformed the S&P MidCap 400 Index over the past 12 months. You can read about the best and worst movers from last year's list in our Winners and Losers feature. Because of our rigid screening process and the limitation of the market value range, only 16 companies returned to our best mid-cap list this year.

Our definition of mid-cap companies is public corporations with a market value between $750 million and $3.3 billion. To compile the 100 best, we put more than 1,000 companies that fit our market value requirement through a screen for profitability and growth over the past year. We also require companies to have five-year forecasted earnings growth of at least 7% a year from Thomson IBES. We gave the remaining companies rankings for latest 12-month and five-year growth in sales, earnings and return on equity. We give more weight to the long-term results and also factor in balance sheet strength.

From these rankings, we next reviewed corporate news and security analyst reports on each firm. We eliminated companies that have significant legal problems or other problems that might hinder future growth. We checked Accounting and Governance Risk ratings from Audit Integrity. This independent research firm, based in New York and Los Angeles, scores companies higher for having more transparent accounting methods and more shareholder-friendly governance practices.

At the top of the list this year is Myriad Genetics, a health care firm that makes diagnostic testing products to determine the risk of diseases such as breast or ovarian cancer. With revenue growth of 43% over the past five years and 47% over the latest year, the debt-free Myriad outscored the rest of the best. In addition, analysts from Thomson IBES are expecting annual earnings per share growth of 25% over the next three to five years.

[Investorman]

Brookfield Infrastructure Partners Announces Year-End 2009 Results
Quarterly Distribution Increased by 3.8% to US$0.275 per Unit

.Companies:Brookfield Infrastructure Partners L.P.Brookfield Infra Partners L.P..Press Release Source: Brookfield Infrastructure Partners L.P. On Monday February 8, 2010, 7:30 am EST

HAMILTON, BERMUDA--(Marketwire - 02/08/10) - Brookfield Infrastructure Partners L.P. (the "Partnership") (NYSE:BIP - News) (TSX:BIP.UN - News) today announced its results for the year ended December 31, 2009, as well as those of its subsidiary, Brookfield Infrastructure L.P. (together with its subsidiaries "Brookfield Infrastructure")(1).

Adjusted net operating income ("ANOI")(2) for Brookfield Infrastructure totalled $117.4 million ($2.46 per unit) for the year ended December 31, 2009 compared to ANOI of $59.7 million ($1.54 per unit) in 2008. Brookfield Infrastructure's ANOI increased 24% over 2008 after adjusting for non-recurring revenue and the impact of TBE, which was sold in 2009. These results reflect the six week contribution from investments in Prime Infrastructure, Dalyrmple Bay Coal Terminal ("DBCT") and PD Ports following close of the recapitalization transaction on November 20, 2009, as well as strong performance from growth at Transelec. Excluding the impact of TBE and non-recurring revenue in 2008, ANOI from utility and energy operations was $55.8 million, a 35% increase versus 2008. Brookfield Infrastructure's timber operations continued to be impacted by the softness in the U.S. housing market. As a result of a depressed price environment and a reduction in harvest levels to preserve inventory value, ANOI from timber operations declined to a loss of $2.6 million, a 120% decrease compared with 2008.

In the fourth quarter of 2009, ANOI for Brookfield Infrastructure totalled $20.5 million ($0.27 per unit) compared to ANOI of $11.3 million ($0.29 per unit) in 2008. The increase in ANOI over the prior year was primarily due to inclusion of results from Prime Infrastructure, DBCT and PD Ports for the six-week period following acquisition close. ANOI from Brookfield Infrastructure's transmission operations increased $3.7 million due to growth at Transelec associated with the increase in its regulated rates and additions to its asset base. In the fourth quarter of 2009, Brookfield Infrastructure's timber operations reported a negative ANOI of $2.7 million reflecting continued weakness in timber markets.

[Investorman]

Brookfield Real Estate Opportunity Fund Announces Acquisition of 16-Property, 2.9-Million Sq. Ft. Portfolio from JPMorgan Chase
February 11, 2010 5:26 PM

Brookfield Real Estate Opportunity Fund ("BREOF"), a group of funds sponsored by Brookfield Asset Management (TSX: BAM.A)(NYSE: BAM)(EURONEXT: BAMA), is pleased to announce to the acquisition of a 16-property, 2.9-million square foot portfolio from JPMorgan Chase. As part of the transaction, JPMorgan Chase is leasing back approximately 60% of the space in the portfolio on a long-term basis. The Bank was represented in the transaction by Houlihan Lokey and by J.P. Morgan Real Estate Advisors, Inc.

Including this transaction, BREOF has acquired over 100 properties, containing approximately 12 million square feet of space from JP Morgan Chase over the last 4 years. "We are excited about the opportunity to add significant value to the portfolio and are proud of our strong relationship with the Bank," said David Arthur, the Fund's President and Managing Partner.

The Portfolio includes four properties, located in Dallas, Tampa and Columbus that are 100% net-leased to JPMorgan Chase. The other properties are located throughout the country and include two meaningful value-add opportunities: an 800,000-square foot office tower in Houston, Texas and a 650,000-square foot office campus/data center site in Whippany, New Jersey.

The Brookfield Real Estate Opportunity Fund invests and manages two funds with $1.8 billion of assets composed of approximately 16 million square feet of commercial office, industrial and multi-family residential properties.

Brookfield Asset Management Inc. has over $90 billion of assets under management in the property, renewable power and infrastructure sectors. For more information, please visit the company's web site at www.brookfield.com.

[Investorman]

Brookfield Infrastructure Update on Chilean Transmission Operations

Monday March 1, 2010, 10:02 am EST

HAMILTON, BERMUDA--(Marketwire - 03/01/10) - Brookfield Infrastructure Partners L.P. (the "Partnership", along with its related entities, "Brookfield Infrastructure") (TSX:BIP.UN - News)(NYSE:BIP - News) provided the following update today. "We have received a preliminary status report from our Chilean transmission operations, Transelec, which owns Chile's trunk transmission system. We are grateful to have been advised by senior management that there has been no loss of life by our personnel or their families", said Sam Pollock, Chief Executive Officer, Brookfield Infrastructure.

"In addition, as a result of Transelec's successful implementation of its emergency response procedures, all delivery points served by Transelec have had their basic electricity service restored. Early assessments indicate that the transmission towers have been largely unaffected; however, several substations incurred some damage from the effects of Saturday's earthquake. Further evaluation of the network is being undertaken. We will endeavour to provide updates as the assessment progresses. We offer our support to the people of Chile during this difficult time", concluded Pollock.