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Brookfield Asset Management is a Canada-based company founded in 1899. The company is a leading global alternative asset manager focused on property, renewable energy, infrastructure, and private equity with approximately $225 billion of assets under management.
The company is based in Toronto and New York and has more than 700 investment professionals and 30,000 operating employees working in twenty countries around the world.
The company's current CEO is Bruce Flatt, appointed in 2002. Prior to his current role at Brookfield, Flatt ran the real estate and investment operations and served on numerous public company boards.
The company was founded in 1899 as São Paulo Tramway, Light and Power Company by William Mackenzie and Frederick Stark Pearson. At this time, the company was engaged in the construction and management of electricity and transport infrastructure in Brazil, providing electricity and tram services in São Paulo and Rio de Janeiro.
Five years later, the Rio de Janeiro Tramway, Light and Power Company was founded, and in 1912, the Brazilian Traction, Light and Power Company was incorporated in Toronto as a public company to develop hydroelectric power operations and other utility services in Brazil. It then became the holding company for São Paulo Tramway Co. and Rio de Janeiro Tramway Co.
In 1966, Brazilian Traction, Light and Power Company Limited changed its name to Brazilian Light and Power Company Limited. Three years later, the company changed its name to Brascan Limited, coming from the history of the company involving the states of Brazil and Canada. In 2005, Brascan Limited became Brookfield Asset Management Inc. Finally, in 2022, Brookfield Asset Management Inc. saw its last name change and became Brookfield Corporation.
