Here’s How Brookfield Asset Management (BAM) Plans to Restructure Its Business

Third Avenue Management, an investment management company based in New York City, released its “Real Estate Value Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. The fund generated a return of -11.44% after charges in the third quarter compared to a return of -11.39% (before charges) for the FTSE EPRA NAREIT Developed Index. Additionally, you can check the fund’s top 5 holdings to find out its top picks in 2022.

Third Avenue Management discussed stocks like Brookfield Asset Management Inc. (NYSE:BAM) in the Q3 2022 Investor Letter. Based in Toronto, Canada, Brookfield Asset Management Inc. (NYSE:BAM) is an asset management company. On October 19, 2022, Brookfield Asset Management Inc. (NYSE:BAM) stock closed at $38.75 per share. One month return of Brookfield Asset Management Inc. (NYSE:BAM) was -16.56% and its shares lost 35.08% of its value in last 52 weeks. Brookfield Asset Management Inc. (NYSE:BAM) has a market capitalization of $63.781 billion.

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Here’s what Third Avenue Management specifically said about Brookfield Asset Management Inc. (NYSE:BAM) in its Q3 2022 investor letter:

Brookfield Asset Management Inc. (NYSE:BAM) (6.8% of fund assets), which is expected to spin off a 25% stake in its wholly-owned investment management business that will manage approximately $750 billion in assets and inherit the existing corporate name. The remaining ‘real assets’ unit will be renamed Brookfield Corporation and will retain the company’s significant investments in real estate, infrastructure, renewable energy and other ‘essential’ businesses, including a rapidly growing insurance platform with key synergies across the business.”

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Brookfield Asset Management Inc. (NYSE:BAM) is not on our list of the 30 most popular stocks among hedge funds. According to our database, 34 hedge fund portfolios held Brookfield Asset Management Inc. (NYSE:BAM) at the end of the second quarter, up from 35 in the previous quarter.

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We discussed Brookfield Asset Management Inc. (NYSE:BAM) in another article and shared Cooper Investor’s view of the company. Additionally, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article was originally published on Insider Monkey.

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