Campaign Brookfield Asset Management

Brookfield Asset Management

Credit Suisse has been the bank in Brookfield’s corner for over a decade

BAM has never been like other asset management companies. Ever since forming in the late 1890s, its focus has been long-term growth.

It's left the fast profit, churn and burn approach to other asset management companies, and concentrated instead in investments that are altogether more tangible.

Like the 19 billion US dollar worth of renewable power assets that it's gradually built up since its first foray into hydroelectric power production in 1916.

And the 275 million square feet of commercial space that makes Brookfield Asset Management one of the world’s largest and most sophisticated owners, operators and investors in property.

This long-term approach goes for business partnerships, too. BAM's relationship with Credit Suisse goes back over 10 years.

Whether we're helping drive expansion and profitability as a strategic partner, or raising the capital to finance their investments, Brookfield Asset Management can count on Credit Suisse to be in their corner.

275

million square feet of commercial space makes Brookfield Asset Management one of the world’s largest owners, operators and investors in property

Since its first foray into hydroelectric power production in 1916, Brookfield has built up renewable power assets worth of 19 billion US dollars

A client relationship that spans geographies, products and services.

Brookfield Asset Management, a global alternative asset manager with over 175 billion US dollars in assets under management. Brookfield has over a 100-year history of owning and operating assets with a focus on property, renewable power, infrastructure and private equity.

Relationship overview: Credit Suisse and Brookfield have worked together for over a decade. Over the course of the relationship, it has evolved such that Credit Suisse now truly acts as a trusted advisor. Credit Suisse has advised Brookfield on many aspects of their corporate strategy, including merger and acquisitions (M&A) discussions and financing activities at many of the Brookfield companies and lending its own balance sheet.

Role: The Credit Suisse Brookfield team is wide and deep, with relationship managers, product specialists, sales people and traders around the world contributing on a daily basis. Whether it is a capital raising exercise at one of the Brookfield companies, an equity trading relationship, lending requirement, currency or interest rate hedging or structured product, the relationship is looked at as a whole and managed that way.

A winning combination

Credit Suisse has been the bank in Brookfield's corner for over a decade

One growing business Credit Suisse has been very involved in is the transformation and growth of Brookfield Infrastructure Partners L.P. (BIP). Since 2009, Credit Suisse has acted as a Lead Joint Bookrunner on three equity offerings for BIP, totaling over 1.8 billion US dollars in capital raised, as well as acting as a Joint Bookrunner on their inaugural 400 million Canadian dollars investment grade bond offering. This capital was used to expand BIP’s business globally, including:

  • The recapitalization of Babcock & Brown Infrastructure, an Australian infrastructure fund, and subsequent merger of Prime Infrastructure.
  • Investing in one of the world’s largest coal export terminals (Dalrymple Bay Coal Terminal), ports (PD Ports) and a railway in Australia.
  • Acquiring toll roads in Chile, including the Autopista Vespucio Norte toll road, which is a key artery in the ring road network surrounding Santiago.
  • Investing in OHL Brazil, one of the largest owners and operators of toll roads in Brazil.

Another example is Credit Suisse’s role as a Lead Arranger and Joint Global Coordinator on NGPL PipeCo LLC’s Senior Secured Term Loan and Senior Secured Notes offerings, respectively. NGPL, a BIP asset, is one of the largest natural gas transmission pipeline and storage systems in the US. Use of proceeds were to (i) tender for the existing Senior Notes due 2012, (ii) replace NGPL’s existing revolver and (iii) for general corporate purposes.

Results: Credit Suisse has been an advisor to Brookfield as it has grown and evolved into a world-class alternative asset manager, which differentiates itself as an owner-operator of real assets.

Future: Credit Suisse’s dialogue with Brookfield is global, multi-dimensional, frequent and always evolving. Credit Suisse aims to continue to partner with Brookfield to accomplish their overall strategic objectives. It is never about one transaction or one piece of advice, it will continue to be about finding solutions to help Brookfield manage and grow its global business.

The Relationship

Learn more about the relationship as the banker and client talk on set