Monday, December 23

Tag: Brookfield

Failure of Bid for Origin Energy Signals Rising Power of Funds
5Dec By adminNo Comments
World

Failure of Bid for Origin Energy Signals Rising Power of Funds

Dec. 4, 2023 11:47 pm ET|WSJ ProSYDNEY—The failure of an US$11 billion takeover bid for Origin Energy marks the beginning of a cycle where long-term investors could play a more dominant role in capital markets.That is the view of Andrew Polson, chief executive of Frontier Advisors, which advises institutional clients who own around 630 billion Australian dollars (US$417.12 billion) in assets. After a wave of mergers in recent years, pension funds in Australia have been increasing their firepower to support investments by companies that until now have largely had to turn to banks, a deep-pocketed buyer or equity raising.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Brookfield-Led Consortium’s $11 Billion Bid for Origin Energy Fails
4Dec By adminNo Comments
World

Brookfield-Led Consortium’s $11 Billion Bid for Origin Energy Fails

SYDNEY—An US$11 billion bid for Origin Energy, one of Australia’s largest power companies, was rejected by its shareholders on Monday in a stark illustration of how investors are adopting different strategies to bet on the energy transition.Origin said that shareholders owning about 69% of its stock voted for the takeover, meaning that the bid made by a consortium led by Brookfield Asset Management fell short of the 75% approval threshold needed to secure a deal.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Brookfield Targets ‘Deglobalization’ Opportunities With $30 Billion to Spend
1Dec By adminNo Comments
World

Brookfield Targets ‘Deglobalization’ Opportunities With $30 Billion to Spend

Dec. 1, 2023 6:38 pm ET|WSJ ProBrookfield’s asset-management unit amassed $30 billion in fresh capital to invest in data centers, telecommunications towers, renewable-power plants and other infrastructure assets, wrapping up its largest fund ever and taking one more step toward its goal of collecting $150 billion in commitments this year.The Toronto-based firm closed its Brookfield Infrastructure Fund V with $28 billion, surpassing the amount raised for each of its other vehicles to date. The firm brought in 12% more than its $25 billion target for Fund V and 40% more than the $20 billion it collected for a predecessor vehicle in 2020.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Brookfield’s Origin Saga Shows It’s Hard to Price Polluters—Analysis
29Nov By adminNo Comments
World

Brookfield’s Origin Saga Shows It’s Hard to Price Polluters—Analysis

Nov. 29, 2023 12:05 am ET|WSJ ProSYDNEY—At the heart of a nearly US$11 billion takeover tussle for the owner of several Australian coal-fired power plants is a key question for investors: how to value a major polluter that could also become a big enabler of the energy transition.It isn’t proving easy. A consortium led by Brookfield Asset Management has made an offer for Origin Energy worth 9.43 Australian dollars a share, equivalent to US$6.21 a share, that it says is fair to shareholders. Brookfield says it will spend up to US$30 billion on accelerating Origin’s shift to renewable energy and storage over the decade through 2033.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Brookfield Consortium’s Revised Origin Energy Offer Fails to Convince Biggest Shareholder
23Nov By adminNo Comments
World

Brookfield Consortium’s Revised Origin Energy Offer Fails to Convince Biggest Shareholder

Updated Nov. 23, 2023 12:11 am ETSYDNEY—A consortium led by Brookfield Asset Management made last-ditch changes to its near US$11 billion offer for Origin Energy but failed to convince Origin’s biggest shareholder to back the deal.The revised proposal, submitted Wednesday evening, forced the Australian energy company to postpone Thursday’s Sydney shareholder meeting just two hours before it was due to start. Shareholders, led by superannuation fund AustralianSuper, were unlikely to sufficiently support the prior offer, said Origin, as it postponed the shareholder meeting to Dec. 4.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Origin’s Largest Shareholder Turns Down Chance to Join Takeover Consortium
13Nov By adminNo Comments
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Origin’s Largest Shareholder Turns Down Chance to Join Takeover Consortium

Nov. 13, 2023 12:33 am ETSYDNEY—Origin Energy’s largest shareholder said it rejected an offer to join the Brookfield Asset Management-led consortium trying to buy the Australian power retailer and generator.AustralianSuper on Monday said that the consortium had offered it the chance to discuss taking an interest in Origin on successful completion of a proposed takeover worth around US$10.50 billion.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Brookfield Asset Management Sees $150 Billion Fundraising Goal Within Reach
7Nov By adminNo Comments
World

Brookfield Asset Management Sees $150 Billion Fundraising Goal Within Reach

Nov. 6, 2023 7:46 pm ET|WSJ ProBrookfield Asset Management remains confident that it can reach its goal of raising $150 billion in new investment capital this year after banking $26 billion in the third quarter alone.The publicly traded infrastructure-focused investment firm controlled by Brookfield Corp. said it amassed $61 billion this year through September. That included $715 million in commitments to its sixth private-equity fund during this quarter. The fund wrapped up roughly a month ago with $12 billion, making it Brookfied’s largest vehicle for the strategy.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8The go-to source for all things private equity.News, data and analysis to help you find opportunities, and to follow the broad ...
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Origin’s Largest Shareholder to Vote Against Brookfield-Led Takeover
31Oct By adminNo Comments
World

Origin’s Largest Shareholder to Vote Against Brookfield-Led Takeover

SYDNEY—Origin Energy’s largest shareholder will vote against the Australian company’s takeover by a Brookfield Asset Management-led consortium, saying its near US$10 billion proposal significantly undervalues the energy retailer and generator.AustralianSuper, which holds a near 14% stake in Origin, on Tuesday said that the deal’s valuation multiples are significantly lower than those in recent relevant transactions and the trading multiples of comparable companies.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Private-Equity Firms Forced to Kick In More Cash to Shore Up Portfolio Companies
21Oct By adminNo Comments
World

Private-Equity Firms Forced to Kick In More Cash to Shore Up Portfolio Companies

Updated Oct. 20, 2023 10:15 am ET|WSJ ProPrivate-equity firms are being forced to spend more money to keep the companies they own alive, as rising interest rates disrupt the buyout industry’s debt-heavy playbook.With credit costs at the highest level in years, companies that provide debt for private-equity deals are asking firms to chip in additional equity when they look to refinance, say people who research the leveraged-finance markets and advise private-equity firms on transactions. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8The go-to source for all things private equity.News, data and analysis to help you find opportunities, and to follow the broad trends in dealmaking, investing and regulation.
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