Brookfield Corporation history, profile and corporate video
Brookfield Corporation is a global alternative asset management company headquartered in Toronto, Ontario, Canada.
The company was founded in 1899 as the São Paulo Tramway, Light and Power Company by William Mackenzie and Frederick Stark Pearson. At that time, the company was engaged in the construction and management of electricity and transport infrastructure in Brazil, providing electricity and tram services in São Paulo and Rio de Janeiro.
In 1904, the Rio de Janeiro Tramway, Light and Power Company was founded.
In 1912, the Brazilian Traction, Light and Power Company was incorporated in Toronto as a public company to develop hydroelectric power operations and other utility services in Brazil. It also became the holding company for São Paulo Tramway Co. and Rio de Janeiro Tramway Co.
In 1966, Brazilian Traction, Light and Power Company Limited changed its name to Brazilian Light and Power Company Limited.
In 1969, Brazilian Light and Power Company Limited changed its name to Brascan Limited. The name ”Brascan” reflected the history of the company, which involves the states Brazil and Canada.
In 2005, Brascan was renamed Brookfield Asset Management Inc.
In 2019, Brookfield acquired a majority interest in Oaktree Capital Management.
In 2022, Brookfield Asset Management Inc. changed its name to Brookfield Corporation. Brookfield Corporation then spun off a 25% interest in their asset management business into a new publically listed Brookfield Asset Management Ltd.
The company operates through the following segments: Real Estate, Infrastructure, Renewable Power, Private Equity, Oaktree, and Insurance Solutions.
In the Real Estate segment, Brookfield is considered one of the world’s largest investors in real estate. It owns and operates properties in sectors, such as office, retail, multifamily, logistics, hospitality, manufactured housing, and other alternative sectors.
In the Infrastructure segment, Brookfield is considered one of the world’s largest infrastructure investors, owning and operating assets across the utilities, transport, midstream, and data sectors.
In the Renewable Power segment, Brookfield is considered one of the world’s largest investors in renewable power. Its portfolio includes hydropower, wind, utility-scale solar, distributed-solar generation, and pumped storage assets.
The Private Equity segment is focused on acquiring businesses in different sectors, such as Business Services, Industrials, or Residential. The services businesses include infrastructure, healthcare, road fuel distribution and marketing, construction, and real estate. The industrial businesses include manufacturers of automotive batteries, graphite electrodes, returnable plastic packaging, and sanitation management and development. The residential businesses include residential development operations in North America and Brazil.
Oaktree is a global alternative asset manager. It is one of the largest distressed securities investors in the world and one of the largest credit investors in the world.
The Insurance Solutions segment focuses on providing capital-based solutions to insurance companies and their stakeholders. It provides annuity-based reinsurance products to insurance and reinsurance companies and acts as a direct issuer of pension risk transfer products for pension plan sponsors.
With over 150,000 employees in more than 30 countries across five continents, Brookfield Corporation is considered one of the world’s largest alternative asset management companies. According to Forbes, it is considered one of the Top 2000 Largest Public Companies in the World.
*Information from Forbes.com, Wikipedia.org, www.brookfield.com, bn.brookfield.com, bam.brookfield.com, and www.oaktreecapital.com.
**Video published on YouTube by “Brookfield Asset Management“.
***Video published on YouTube by “Companies History“.