Core Viewpoint - Brookfield Asset Management Ltd. will host its first quarter 2025 conference call and webcast on May 6, 2025, at 11:00 a.m. ET, with results released prior to 7:00 a.m. ET on the same day [1]. Group 1 - Brookfield Asset Management is a leading global alternative asset manager headquartered in New York, managing over $1 trillion in assets across various sectors including renewable power, infrastructure, private equity, real estate, and credit [2]. - The company focuses on long-term investments in real assets and essential service businesses that are fundamental to the global economy [2]. - Brookfield offers a range of alternative investment products to a diverse clientele, including public and private pension plans, endowments, foundations, sovereign wealth funds, financial institutions, insurance companies, and private wealth investors [2].

Core Viewpoint - Brookfield Asset Management has entered into an agreement to acquire a majority ownership stake in Angel Oak Companies, enhancing its credit business and providing investors access to Angel Oak's residential mortgage credit strategies [1][2]. Company Overview - Brookfield Asset Management is a leading global alternative asset manager with over $1 trillion in assets under management across various sectors, including renewable power, infrastructure, private equity, real estate, and credit [5]. - Angel Oak Companies, founded in 2008, has grown to manage over $18 billion in assets, specializing in U.S. non-agency residential mortgages through a vertically integrated platform [2][7]. Strategic Partnership - The partnership aims to leverage Angel Oak's origination and investment capabilities to complement Brookfield's credit offerings, with expectations of significant value addition as Angel Oak expands its relationships with institutional investors [2][3]. - Angel Oak will continue to operate independently, retaining its leadership team, including co-founders Sreeni Prabhu and Mike Fierman as Co-CEOs [4]. Financial Performance - Angel Oak has originated more than $30 billion in residential mortgage loans and issued over 60 securitizations, with an anticipated acceleration in growth due to increasing borrower segments underserved by traditional lenders [2]. Market Position - Angel Oak Mortgage Solutions is recognized as the top nonbank wholesale and correspondent lender of non-QM loans in the U.S., operating in 46 states and the District of Columbia [8]. - Brookfield Credit manages approximately $317 billion in assets globally, focusing on a wide range of private credit investment strategies [6].

Core Viewpoint - Investors in the Financial - Miscellaneous Services sector should consider XP Inc.A and Brookfield Asset Management, with XP currently presenting a better value opportunity based on various financial metrics [1]. Valuation Metrics - XP Inc.A has a Zacks Rank of 1 (Strong Buy), indicating a positive earnings outlook, while Brookfield Asset Management has a Zacks Rank of 3 (Hold) [3]. - XP has a forward P/E ratio of 9.16, significantly lower than BAM's forward P/E of 28.75, suggesting XP is undervalued [5]. - The PEG ratio for XP is 0.65, compared to BAM's 1.60, indicating XP's expected earnings growth is more favorable relative to its valuation [5]. - XP's P/B ratio stands at 2.19, while BAM's P/B ratio is 6.22, further highlighting XP's relative undervaluation [6]. - These metrics contribute to XP's Value grade of A and BAM's Value grade of F, reinforcing the notion that XP is the superior value option [6][7].

Core Viewpoint - Brookfield Renewable Holdings SAS has initiated a squeeze-out procedure for Neoen shares and bonds convertible into Neoen shares following a simplified tender offer, with the aim of consolidating ownership and delisting from Euronext [3][6][10]. Company Overview - Neoen S.A. is a French public limited company with a share capital of 305,697,548 euros, registered in Paris and listed on Euronext Paris under the ticker symbol "NEOEN" [4]. - The company has issued bonds convertible into shares, known as OCEANEs, with the 2020 and 2022 series being traded on Euronext Access [4]. Offer Details - The indemnification amount for the squeeze-out is set at 39.85 euros per Neoen share and 103,562.50 euros per 2022 OCEANE [3]. - The simplified tender offer received clearance from the French financial markets authority (AMF) on February 11, 2025, and was conducted from February 13 to March 13, 2025 [6][11]. Ownership Post-Offer - Following the offer, Brookfield Renewable Holdings holds 158,568,130 shares, representing 97.73% of Neoen's share capital and voting rights [6]. - The Offeror also holds 100% of the outstanding 2020 OCEANEs and 95.76% of the outstanding 2022 OCEANEs [7]. Squeeze-Out Implementation - The squeeze-out will be implemented on April 4, 2025, covering 3,343,335 shares from the conversion of 2,776,857 2020 OCEANEs and 5,909,683 shares from the conversion of 2,363 2022 OCEANEs [12]. - The total number of shares not tendered by minority shareholders, excluding assimilated shares, is 3,835,022, representing 2.36% of the company's share capital [13]. Regulatory Compliance - The AMF has confirmed that the conditions for the squeeze-out procedure are met, including the fair valuation of the offered prices [13]. - The listing of shares and OCEANEs will be suspended until the implementation of the squeeze-out [14]. Financial Arrangements - The Offeror will deposit the total indemnification amount into a blocked account for compensation transactions, managed by Uptevia [16]. - Unallocated funds for unknown beneficiaries will be held for ten years before being transferred to the French State [17].

Group 1 - Investors in Brookfield Asset Management Ltd. should monitor stock movements due to high implied volatility in options, particularly the Apr 17, 2025 $30.00 Call [1] - Implied volatility indicates market expectations for significant price movement, suggesting potential upcoming events that could lead to a rally or sell-off [2] - Brookfield currently holds a Zacks Rank 3 (Hold) in the Financial - Miscellaneous Services industry, which is in the top 12% of the Zacks Industry Rank [3] Group 2 - No analysts have increased earnings estimates for Brookfield in the last 60 days, with three analysts lowering their estimates, resulting in a consensus estimate drop from 41 cents to 40 cents per share [3] - The high implied volatility may indicate a developing trade, as options traders often seek to sell premium on such options to capture decay [4]

Core Viewpoint - Brookfield Renewable Holdings has successfully completed a cash tender offer for Neoen, acquiring 97.73% of its share capital and initiating a mandatory squeeze-out procedure for the remaining shares and convertible bonds [1][2][3] Group 1: Acquisition Details - The tender offer period ran from February 13 to March 13, 2025, resulting in Brookfield holding 158,568,130 shares of Neoen [2] - Brookfield also acquired 902,796 OCEANEs 2020, representing 100% of the remaining outstanding OCEANEs 2020, and 610 OCEANEs 2022, representing 95.76% of the remaining outstanding OCEANEs 2022 [2][3] - The squeeze-out procedure will be requested at a price of €39.85 per share and €103,562.50 per OCEANE 2022 [3] Group 2: Company Statements - Xavier Barbaro, CEO of Neoen, expressed gratitude to shareholders, highlighting the offer's success as a significant milestone for the company [4] - Ignacio Paz-Ares from Brookfield emphasized the commitment to advancing investments in renewable energy and collaborating with Neoen to accelerate growth [4] Group 3: Company Background - Neoen, founded in 2008, is a leading independent producer of renewable energy, focusing on solar and onshore wind power, as well as battery energy storage [7] - The company's operational capacity has quadrupled over the last six years, currently standing at 8.9 GW, with a goal to reach 10 GW by 2025 [7] - Neoen operates nearly 200 assets globally, including significant projects in Australia, France, and Finland [8]

Core Points - Brookfield Asset Management Ltd. (BAM) has filed its 2024 annual report on Form 10-K with the SEC for the first time [1] - BAM will continue to file quarterly reports on Form 10-Q and current reports on Form 8-K with the SEC [2] - BAM manages over $1 trillion in assets across various sectors including renewable power, infrastructure, private equity, real estate, and credit [3] Company Overview - BAM is a leading global alternative asset manager headquartered in New York [3] - The company focuses on long-term investments in real assets and essential service businesses [3] - BAM offers a range of alternative investment products to various investors including pension plans, endowments, sovereign wealth funds, and private wealth investors [3]

Financial Performance - The company reported Distributable Earnings, a key measure of financial performance, with an intention to pay out approximately 90% of these earnings to shareholders quarterly [43]. - Fee revenues for 2024 reached $4.7 billion, a 7% increase compared to 2023, while fee-related earnings increased by 10% to $2.5 billion [81]. - The company raised over $135 billion in total fundraising across flagship and complementary fund offerings in 2024 [78]. - Fee-bearing capital increased by $82 billion, or 18%, to $539 billion in 2024, with 87% being long-dated or perpetual [80]. Assets Under Management - As of December 31, 2024, the company had $1 trillion in Assets Under Management and $539 billion in Fee-Bearing Capital, with 87% of the Fee-Bearing Capital being long-dated or perpetual in nature [38][47]. - The renewable power and transition segment had $126 billion in AUM and $58 billion in Fee-Bearing Capital as of December 31, 2024, indicating strong growth potential in low-carbon energy investments [56]. - The infrastructure segment managed $202 billion in AUM and $97 billion in Fee-Bearing Capital as of December 31, 2024, focusing on essential goods and services across various sectors [61]. - As of December 31, 2024, the company has over $271 billion in assets under management (AUM) in real estate and $94 billion in fee-bearing capital [64]. Client and Employee Engagement - The company has over 2,300 clients, including some of the world's largest institutional investors, and continues to grow its private wealth channel, which represents over 8% of capital raised [39]. - The company employs over 2,500 investment and asset management professionals globally, supporting its diverse investment strategies and client service [40]. - The total number of full-time operating employees increased by 2% to approximately 250,000 in 2024 [98]. - The company has approximately 650 investment and asset management professionals dedicated to real estate strategies, supported by 24,500 operating employees [64]. Strategic Initiatives - The company is actively pursuing strategic M&A opportunities to expand its capabilities and enhance its growth trajectory [43]. - The company aims to deepen existing institutional relationships and develop new ones, while also accessing new distribution channels, including high net worth individuals and retail [38]. - BAM acquired a 51% stake in Castlelake's fee-related earnings and committed to invest approximately $1 billion in Castlelake's investment strategies and funds [93]. - The Catalytic Transition Fund raised $2.4 billion in its initial close, including a $1 billion anchor investment from ALTÉRRA [93]. - Pinegrove Ventures, managing approximately $10 billion in assets, was acquired to enhance BAM's venture investment platform focused on growth and technology [93]. Sustainability and Governance - BAM's sustainability policy aims for net-zero greenhouse gas emissions by 2050 and emphasizes strong governance and ethical standards [114][117]. - The company aims to achieve net zero emissions by 2050 or sooner across operationally managed investments, focusing on decarbonization as a material value-creation opportunity [132]. - The Board oversees major strategic initiatives and sustainability progress, ensuring alignment with shareholder interests [120]. - The company emphasizes the importance of managing sustainability risks and opportunities throughout the investment lifecycle, supported by investment teams [126]. Risk Management - The company maintains a strong risk management culture, focusing on proactive identification and management of risks across various areas [106]. - The company faces risks related to deficiencies in financial reporting and disclosures, which could adversely impact its reputation and financial condition [157]. - The company is subject to numerous laws and regulations that could result in financial penalties and damage to reputation in instances of non-compliance [164]. - The company is exposed to risks from catastrophic events, such as natural disasters and pandemics, which could materially impact operations [199]. Compliance and Regulatory Challenges - Regulatory compliance obligations are increasing, which may lead to higher costs and impact profitability [165]. - The company operates in multiple jurisdictions, including the U.S., E.U., and Canada, which may introduce additional regulatory requirements and compliance costs [166]. - The company is subject to anti-bribery and corruption laws globally, which may lead to significant liabilities and reputational harm if not complied with [176]. - Compliance with evolving sustainability regulations may result in additional costs and impact profitability, particularly under the E.U. Sustainable Finance Disclosure Regulation [205]. Financial Risks - The company may face increased interest costs due to rising interest rates, which could negatively affect financial performance and asset values [187]. - Political instability and changes in government policy in various jurisdictions could adversely impact the value of the company's investments [190]. - Inflationary pressures could affect the company's managed assets and overall financial performance, with potential for increased tariffs and trade barriers adding uncertainty [198]. - Foreign exchange rate fluctuations could adversely impact the company's financial position, especially in markets where the U.S. dollar is not the local currency [183].

Core Viewpoint - Dividend stocks are highlighted as stable investment options in an uncertain economic environment, providing both income potential and business durability [1][8]. Group 1: Dividend Stock Picks - Brookfield Asset Management (BAM) has a dividend yield of 3.8% and is expected to grow its dividend at an annualized rate of over 15% in the coming years, managing over $1 trillion in assets across various sectors [3][8]. - Chevron (CVX) offers a 4.5% dividend yield and has increased its dividend for 38 consecutive years, returning a record $27 billion to shareholders last year through dividends and share repurchases [4][8]. - EPR Properties (EPR) specializes in the "experience economy" with a dividend yield of 6.7%, supported by stable cash flows from properties like water parks and ski resorts [5][8]. - Invitation Homes (INVH) has a dividend yield of 3.5% and owns over 85,000 homes, benefiting from the trend towards single-family rentals in high-cost housing markets [6][8]. - Medtronic (MDT) provides a dividend yield of 3.1% and has raised its dividend for 47 consecutive years, focusing on medical technologies that address critical health needs [7][8]. Group 2: Investment Implications - The selected dividend stocks range in yield from 3.1% to 7% and are positioned for long-term growth, offering potential substantial total returns while providing consistent income [8].

Group 1 - The article emphasizes the importance of a durable and defensive business model combined with a strong investment-grade balance sheet for creating a successful dividend investment strategy [1] - It highlights the significance of an attractive current dividend yield and strong dividend growth potential that can outpace inflation in the future [1] Group 2 - The company invests significant resources, including thousands of hours and over $100,000 annually, into researching profitable investment opportunities [2] - The approach has garnered over 180 five-star reviews from satisfied members, indicating a positive reception and effectiveness of the strategies offered [2]