Brookfield Asset Management Provides Insights and Strategy Updates at Annual Meeting of Shareholders

Event Summary:

• Annual Meeting of Shareholders for Brookfield Asset Management Ltd. (NYSE:BAM) held on June 7, 2024.
• Mark Carney chaired the meeting, and Kathy Sarpash acted as Secretary.
• Shareholders could vote on resolutions via the live webcast platform.
• Four items of business were considered: financial statements, election of directors, appointment of external auditor, and advisory resolution on executive compensation.
• All proposed resolutions were passed, and the nominated directors were elected.
• Hadley Peer Marshall presented an update on the company's performance and outlook.

Drivers of Segment Performance:

• Strong financial results in the first full year as a separate public company.
• Raised $143 billion of capital, including $50 billion for Brookfield Reinsurance.
• Deployed nearly $60 billion of capital in large-scale deals and investments.
• Monetized over $30 billion of assets at attractive returns.
• Generated $4.4 billion in fee revenues with a 50% margin.
• No debt, $2.6 billion of cash on hand, and over $100 billion of investable capital.

Outlook and Inflection Points:

• Target to double fee-bearing capital to over $1 trillion by 2028.
• Expect to capitalize on global trends such as deglobalization, decarbonization, and digitalization.
• Anticipate growth through global fundraising capabilities, expanding credit group, and strategic initiatives.
• Flagship funds forecasted to grow over 10% in the next 5 years, contributing over $150 billion of fee-bearing capital.
• Insurance capital under management expected to grow to $250 billion by 2028.
• Credit group projected to grow to over $500 billion by 2028.

Specific Products and Inventory Changes:

• Record number of complementary funds in the market, around 50 additional strategies.
• Examples include Middle Eastern Partners fund, financial infrastructure fund, and Catalytic Transition Fund.
• Insurance solutions platform and credit group are significant growth drivers.
• Recent strategic transactions include a 51% stake in Castlelake and a partnership with Sequoia Heritage to launch Pinegrove Capital.

Insights from Answers to Analyst Questions:

• No questions were addressed as none were submitted by the attendees during the meeting.

Additional Notes:

• Dividend increased by 19% to $0.38 per share.
• Emphasis on the company's position to benefit from large global tailwinds and attract significant capital.
• Mention of strategic partnerships and acquisitions to support growth.
• Commitment to maintaining strong margins and a high dividend payout ratio.

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