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Annual Meeting of Shareholders
FRIDAY, JUNE 14 , 2019
22
MAUREENKEMPSTON DARKES
ELYSE ALLAN
NOMINEES FOR ELECTION BY THE
Class A Shareholders
ANGELABRALY
DIANATAYLOR
33
NOMINEES FOR ELECTION BY THE
Class A Shareholders
MURILOFERREIRA
RAFAELMIRANDA
NGEE HUATSEEK
FRANK MCKENNA
44
NOMINEES FOR ELECTION BY THE
Class B Shareholders
JEFFBLIDNER
MARCELCOUTU
LORDO’DONNELL
JACKCOCKWELL
55
NOMINEES FOR ELECTION BY THE
Class B Shareholders
BRIANLAWSON
BRUCEFLATT
ROBERTHARDING
TIMOTHY PRICE
Annual Meeting of Shareholders
FRIDAY, JUNE 14 , 2019
77
The Year in Review
88
We continue to expand our franchise as one of the leading global alternative asset managers
99
Over the last year, we…
Raised $31 billionof capital across
our business
Deployed $30 billion of capital in high-quality
investments globally
Realized $17 billionof proceeds from
asset sales
Note/Assumption:1) For the last twelve months ended March 31, 2019
1010
515
2015 2018 2019 2023
Our private funds achieved strong returns, enabling our client relationships to grow…
630
280
~1,000Target
Notes/Assumptions:1) As at March 31, 20152) As at March 31, 20183) As at March 31, 2019
+12% CAGR
21
+23% CAGR
+22%CAGR
3
11
… and the business continues to expand in three key ways
Flagship Funds
Expanding the size of our
traditional funds
New Strategies
Launching new strategies adjacent to
existing strategies
New Channels
Expanding our distribution channels for existing products
1 2 3
1212
We completed fundraising for our latest Real Estate fundand launched our next flagship Infrastructure
and Private Equity funds
Notes/Assumptions:1) Funds raised to date as at May 9, 2019 2) First close held in Q2 2019
$14.0 $14B2+Infrastructure $2.7 $7.0
$9.0 $15.0BReal Estate
$4.0 $7.4B1+$0.8Private Equity
$1.0
Current
$4.4
$1.0
Previous Three Flagship VintagesUS$ billions
1313
We added a premier credit franchise to our capabilities
$4.8BLARGE SCALE CAPITAL
North America, Asia, EuropeGLOBAL REACH
1414
All of this has led to meaningful growth in operating results in the last year1…
Notes/Assumptions:1) One year increase as at March 31, 2019 – excludes the impact of Oaktree acquisition2) Excludes performance and transaction fees3) Excludes disposition gains and performance fees
Fee bearing capital
Fee related earnings2
Annualized fees and target carry
Funds from operations3
Cash available for distribution/re-investment
18%
15%
26%
13%
11%
1515
Current Opportunities
16
We try to use our competitive advantages
in everything we do
17
Size
Size in real asset sectors offers opportunity
1
$$
$$
$$
$$
$$
$$$$
18
Global Platform and Flexible Mandates
2
19
Operating Businesses
3
20
It helps that real assets haveideal long-term return characteristics
Good cash-on-cash yields
Contracted for long durations
Adjust with inflation
Scarce and often appreciate in value
Returns are often far greater with equivalent risk
21
Irrespective of markets and politics, we continue to focus on:
Strengthening our balance sheets
Deploying capital for value
Recycling proceeds into higher yielding
opportunities
Being patient, waiting for market
breaks
2222
We always invest with a high priority on ESG principles
Built into our investment approval process and board
mandates
One of world’s largest pure-play renewable energy portfolios
90% of our core office portfolio is green building certified
Maintaining an inclusive and diverse work environment
2323
2008 2018 2030E
$55T
$20T
$100T1
The universe of institutional capitalcontinues to grow
Note/Assumption:1) Brookfield estimate
2424
We still believe target allocations will reach 40% in the long term and may be higher
Notes/Assumptions:1) Source: Willis Towers Watson Global Pension Assets Study, 2018 2) Brookfield estimate
20171 2030220001
Real Assets/AlternativesEquity/Fixed Income
5%95%75%
60%25% 40%+
2525
Potential capture size?
~$25 Trillion to come
Note/Assumption:1) Brookfield estimate of target allocation to real assets/alternatives by 2030
2626
To sum up the opportunity
Institutions are increasing allocations to real assets
Plans are currently under-allocated even at current numbers
The capital to come is many trillions
Experienced managers will benefit from this
2727
We continue to identifymany attractive investment
opportunities…
28
Real Estate:Positive fundamentals are creating opportunities
across sectors and geographies
Value exists for those with operational capabilities
Opportunity in Europe, India and China
Good retail is resilient
2929
$14.5BLARGE SCALE CAPITAL
Retail business take-private
North AmericaGLOBAL REACH
3030
Forest City Realty Trust
$6.8BLARGE SCALE CAPITAL
North AmericaGLOBAL REACH
31
Infrastructure and Renewable Power
Systemic underinvestment globally
Energy decarbonization driving shift to renewables
State utilities privatizing
Broader energy chain offers opportunity
3232
Residential Energy Infrastructure Provider
$3.3BLARGE SCALE CAPITAL
North AmericaGLOBAL REACH
33
Private Equity:Steady demand for operations-oriented investment
in high-quality companies
Value-creation opportunities exist for operational turnarounds
Capital-constrained Brazil and India present compelling opportunities
3434
Automotive Battery Manufacturer
$13.2BLARGE SCALE CAPITAL
North America, Asia, EuropeGLOBAL REACH
35
Priorities
3636
Looking ahead, we are focused on five things…
Enhancing returns and asset values
Completing fundraising for current Flagship Funds
Closing the acquisition of Oaktree Capital Management
Sourcing deals and investing $25 billion of fund commitments at or above target returns
Generating increased cash flows on a per share basis
37
Q&A
Annual Meeting of Shareholders
FRIDAY, JUNE 14 , 2019
3939
Notice to RecipientsBrookfield is not making any offer or invitation of any kind by communication of this document to the recipient and under no circumstances is it to be construed as a prospectus oran advertisement.
Except where otherwise indicated herein, the information provided herein is based on matters as they exist as of the date of preparation and not as of any future date, is subject tochange, and will not be updated or otherwise revised to reflect information that subsequently becomes available or circumstances existing or changes occurring after the datehereof. Unless otherwise noted, all references to “$” or “Dollars” are to U.S. Dollars.
CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS AND INFORMATION
This presentation contains “forward-looking information” within the meaning of Canadian and United States securities laws, including United States Private Securities LitigationReform Act of 1995. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, and include statementsregarding our and our subsidiaries’ operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoingobjectives, strategies and outlook, as well as the outlook for North American and international economies for the current fiscal year and subsequent periods, and include, but arenot limited to, statements regarding our asset management. In some cases, forward-looking statements can be identified by terms such as “expects,” “anticipates,” “plans,”“believes,” “estimates,” “seeks,” “intends,” “targets,” “projects,” “forecasts” or negative versions thereof and other similar expressions such as “Brookfield plan” or “Brookfieldestimate,” or future or conditional verbs such as “may,” “will,” “should,” “would” and “could.”
Although we believe that our anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based uponreasonable assumptions and expectations, the reader should not place undue reliance on forward- looking statements and information because they involve known and unknownrisks, uncertainties and other factors, many of which are beyond our control, which may cause our and our subsidiaries’ actual results, performance or achievements to differmaterially from anticipated future results, performance or achievements expressed or implied by such forward-looking statements and information.
Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements include, but are not limited to: lower than targetinvestment returns; the impact or unanticipated impact of general economic, political and market factors in the countries in which we do business; the fact that our success dependson market demand for our products; the behavior of financial markets, including fluctuations in interest rates and foreign exchanges rates; changes in inflation rates in NorthAmerica and international markets; the performance of global equity and capital markets and the availability of equity and debt financing and refinancing within these markets;strategic actions including dispositions; the competitive market for acquisitions and other growth opportunities; our ability to satisfy conditions precedent required to complete suchacquisitions; our ability to effectively integrate acquisitions into existing operations and attain expected benefits; the outcome and timing of various regulatory, legal andcontractual issues; changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accounting assumptions andestimates); the effect of applying future accounting changes; business competition; operational and reputational risks; technological change; changes in government regulation andlegislation within the countries in which we operate; changes in tax laws; catastrophic events, such as earthquakes and hurricanes; the possible impact of international conflicts andother developments including terrorist acts and cyberterrorism; and other risks and factors detailed from time to time in our documents filed with the securities regulators in Canadaand the United States.
We caution that the foregoing list of important factors that may affect future results is not exhaustive. When relying on our forward-looking statements, investors and others shouldcarefully consider the foregoing factors and other uncertainties and potential events. Except as required by law, we undertake no obligation to publicly update or revise any forward-looking statements or information in this presentation, whether as a result of new information, future events or otherwise.
Past performance is not necessarily indicative of future results and there can be no assurance that comparable results will be achieved, that an investment will be similar to thehistoric investments presented herein (because of economic conditions, the availability of investment opportunities or otherwise), that targeted returns, diversification or assetallocations will be met or that an investment strategy or investment objectives will be achieved.
4040
CAUTIONARY STATEMENT REGARDING USE OF NON-IFRS MEASURES
This presentation contains references to financial metrics that are not calculated in accordance with, and do not have any standardized meaning prescribed by, InternationalFinancial Reporting Standards (“IFRS”). We believe such non-IFRS measures are useful supplemental measures that may assist investors and others in assessing our financialperformance and the financial performance of our subsidiaries. As these non-IFRS measures are not generally accepted accounting measures under IFRS, they are thereforeunlikely to be comparable to similar measures presented by other issuers and entities. These non-IFRS measures have limitations as analytical tools. They should not beconsidered as the sole measure of our performance and should not be considered in isolation from, or as a substitute for, analysis of our financial statements prepared inaccordance with IFRS. For a more fulsome discussion regarding our use of non-IFRS measures and their reconciliation to the most directly comparable IFRS measures refer to ourdocuments filed with the securities regulators in Canada and the United States.
OTHER CAUTIONARY STATEMENTS
Certain of the information contained herein is based on or derived from information provided by independent third-party sources. While Brookfield believes that such information isaccurate as of the date it was produced and that the sources from which such information has been obtained are reliable, Brookfield does not guarantee the accuracy orcompleteness of such information and has not independently verified such information or the assumptions on which such information is based. This document is subject to theassumptions (if any) and notes contained herein.
The information in this document does not take into account your investment objectives, financial situation or particular needs and nothing contained herein should be construed aslegal, business or tax advice. Each prospective investor should consult its own attorney, business adviser and tax advisor as to legal, business, tax and related matters concerningthe information contained herein.
Notice to Recipients cont’d
Annual Meeting of Shareholders
FRIDAY, JUNE 14 , 2019