&w=3840&q=100)
Brookfield plans $100 billion India bet as global AUM eyes $2 trillion mark
New York-based Brookfield Asset Management aims to quadruple India exposure to $100 billion as part of its plan to double global AUM to $2 trillion in five years
Dev Chatterjee Mumbai
Listen to This Article
Brookfield Asset Management plans to ramp up its investments in India to $100 billion over the next five years, up from $30 billion currently, as part of a broader strategy to double its global assets under management (AUM), President Connor Teskey said here on Thursday.
The New York-based alternative asset giant, which oversees more than $1 trillion across renewables, infrastructure, private equity, real estate and credit, expects its total AUM to hit $2 trillion within the same timeframe.
'We expect our global business to more than double over the next five years,' said Teskey, 38, who is widely expected to
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
an hour ago
- Mint
Teton Capital Said to Agitate for Changes at Atlantic Union Bank
(Bloomberg) -- Financier David Sokol's investment fund has taken a stake in Atlantic Union Bankshares Corp. and is pushing the US regional bank to consider cutting costs, shrinking its board and overhauling its executive compensation, according to people familiar with the matter. Teton Capital — run by the former Berkshire Hathaway Inc. executive — holds a less than 5% stake in Atlantic Union, said the people, who asked to not be identified because the details aren't public. Sokol, who was once considered a potential successor Warren Buffett, has been critical of Atlantic Union's performance since announcing a $1.6 billion purchase last year of Sandy Spring Bancorp, viewing it as an expensive foray into a new territory that isn't delivering good results, the people said. Sokol wants Atlantic Union to consider winnowing down its 14-director board, the people said. He believes it should also evaluate all overhead expenses to cut costs and align its executive compensation with stock performance, they said. Representatives for Teton Capital and Atlantic Union declined to comment. Atlantic Union closed 2% higher in New York trading Friday, giving the Richmond, Virginia-based company a market value of about $4.4 billion. Atlantic Union's shares have fallen around 19% this year. The bank added three members to its board this year following the closing of the Sandy Spring acquisition. That deal was supported by more than 95% of Atlantic Union's shareholders, according to a regulatory filing. The bank also added two additional board members via its all-stock acquisition last year of American National Bankshares. Sokol oversaw Berkshire Hathaway's energy utility and aviation company NetJets before resigning in 2011. More stories like this are available on
Mint
an hour ago
- Mint
Unblocked! After legal feud, US Supreme Court allows Elon Musk's DOGE broad access to Social Security data
The US Supreme Court on Friday granted billionaire Elon Musk's Department of Government Efficiency access to personal information on millions of Americans amid an extended legal battle. DOGE plays a very important role in the Trump administration's aim to slash the federal workforce. According to Reuters, the justices put on hold Maryland-based US District Judge Ellen Hollander's order that blocked DOGE's access to the personal information of Americans. Judge Hollander's order blocked DOGE's access to the Social Security data systems that contained the medical and financial records of millions of Americans. It was cited in the order that granting such access could violate federal privacy laws in the country. According to NBC, the conservative-majority court granted an emergency application filed by the Trump administration. The application requested the justices to lift an injunction issued by a federal judge in Maryland. This comes at a time when Donald Trump and Elon Musk are caught in the middle of a major feud, with the latter taking to X to criticize the reigning US President. The Social Security data request was made by the Elon Musk-led DOGE before the fallout between the billionaire and the President. At the time, DOGE wanted to modernize the existing systems and detect waste and fraud at different levels. Their request revolved around Social Security numbers, medical records, and crucial financial information of Americans. 'These teams have a business need to access the data at their assigned agency and subject the government's records to much-needed scrutiny,' Solicitor General D. John Sauer was quoted as writing in the court documents. Meanwhile, the challengers' lawyers wrote, "The agency is obligated by the Privacy Act and its own regulations, practices, and procedures to keep that information secure — and not to share it beyond the circle of those who truly need it," according to the court documents.
Time of India
an hour ago
- Time of India
Navy set to induct 1st of 16 desi shallow water craft on June 18
NEW DELHI: The Navy is now set to commission the first of the 16 specialised small warships, designed for anti-submarine warfare and low-intensity maritime operations along the coast, being built at Indian shipyards at an overall cost of Rs 12,622 crore. The first anti-submarine warfare shallow water craft, built by Kolkata-based defence shipyard Garden Reach Shipbuilders & Engineers (GRSE) in collaboration with L&T Shipbuilders, will be commissioned as INS Arnala at Visakhapatnam in the presence of chief of defence staff General Anil Chauhan on June 18. The 77-metre-long craft, with a displacement of 1,490 tonne and equipped with state-of-the-art underwater sensors, is the largest Indian warship till now to be propelled by a diesel engine-waterjet combination. "The warship incorporates over 80% indigenous content and integrates advanced systems from leading Indian defence firms, including Bharat Electronics Limited, L&T and Mahindra Defence," an officer said. GRSE and Cochin Shipyard are each building eight of these warships under twin Rs 6,311 crore contracts inked with them in April 2019. All the warships are supposed to be delivered by 2028. Named after the historic Arnala Fort off Vasai in Maharashtra, the first of these 16 warships reflects India's rich maritime heritage.
