Update on Brookfield Infrastructure Partners (BIP)

Brookfield Infrastructure Partners (BIP) was launched in 2008 and grew to become one of the world’s largest owners and operators of infrastructure assets. When we first discussed Brookfield Infrastructure a few years ago we were enthusiastic about their prospects. Let’s check up on them and see what we might expect from them going forward. You’ll recall, infrastructure […]

Brookfield Infrastructure (BIP) Reports 1Q15; Solid Quarter of Progress

Financial Summary: Funds from Operations (FFO), BIP’s measure of cash flow, for the first quarter 2015 (1Q15) was $186 million or $0.89/unit unchanged when compared to 1Q14. Results were unchanged as contributions from new investments and improvements in existing businesses were largely offset by a $15 million impact foreign exchange movements resulting from the strong […]

Brookfield Asset Management (BAM) 2014 and 4Q Results that Didn’t Miss a Beat

Brookfield Asset Management (BAM): reported [Source] Funds from Operation (FFO), their primary measure of cash flow, was $2.2 billion for 2014 or $3.17/share a decrease of 38% on a per share basis from the previous year of $3.4 billion or $5.14/share when the company recorded an all time record high. For the fourth quarter 2014 (4Q14) […]

Brookfield Infrastructure (BIP) Reports 2014 Results; Another Good Year

Brookfield Infrastructure Partners (BIP) reported results [Source] for full year 2014 with a total return of 12% compared to its target total return of 12-15%. In the past three and five years annualized returns were 20% and 26% respectively. Funds from Operations (FFO), BIP’s measure of cash flow, for the full year 2014 was $724 […]

Brookfield Infrastructure Partners (BIP) Thesis Update

In 2012 we estimated Brookfield Infrastructure Partners (BIP) [Source] would be $40-46/unit (share) in a 3-5 year time frame. The investment thesis is playing out and BIP has reached the lower end of the range a little early for a total return of 43% or about 16%/year. While investors may consider selling to lock in […]

Brookfield Asset Management (BAM) 3Q14 Update: Growing Platform of Opportunity

Brookfield Asset Management is a global alternative asset manager with $200 billion in Assets under Management (AUM). They own and operate real assets with a focus on: property, renewable power, infrastructure through listed entities and their asset management franchise. Capital is employed with a long term investment horizon, attention to the business cycles and a […]

Brookfield Infrastructure (BIP) 3Q14 Update: Strong Quarter to Underpin Future Returns

Brookfield Infrastructure (BIP) reported a strong 3Q14 [Source] and continues to execute well. Importantly management provides examples of what BIP is doing each quarter to continue their performance in the future through: “(i) the quality of our assets (ii) our track record of internally generated growth (iii) our global business development platform with local presence and (iv) our full […]

Brookfield Asset Management (BAM) 2Q14 Results: Strong Growth Continues

Profile: Brookfield Asset Management is a global alternative asset manager with $192 billion in Assets under Management (AUM). They have a 100+ year history of owning and operating real assets with a focus on property, renewable power, infrastructure and private equity sectors. They invest alongside shareholders and institutional investment partners in high quality, simple to […]

Brookfield Infrastructure (BIP) Reports 2Q14 Results; It Remains a Solid Long Term Investment

Before jumping into the quarterly report let’s take a moment to review why we’re invested in this business. Good Business: Brookfield Infrastructure Partners (BIP) is invested heavily in a class of assets that became known as infrastructure assets and established a preeminent position. Infrastructure assets are long life and require relatively minimal maintenance capital expenditures, they […]

Brookfield Asset Management (BAM) 1Q14 At an Inflection Point

Brookfield Asset Management (BAM): reported [Source] Funds from Operation (FFO) the company’s measure of cash flow, was $492 million for 1Q14 increasing 6% over the 1Q13 quarter level of $387 million excluding realized gains on asset sales. The increase was due to stronger pricing in renewable energy operations and increased asset management fees partially offset by […]