Latest news with #BrookfieldCorp
Yahoo
25-05-2025
- Business
- Yahoo
Nearly One-Third of Billionaire Bill Ackman's $11.9 Billion Portfolio Is Invested in These 3 Magnificent Growth Stocks
Ackman's top new holding is Uber Technologies. The billionaire also owns big positions in Alphabet Class A and Class C shares. Uber's valuation seems iffy, but Alphabet appears to be poised to deliver solid growth. 10 stocks we like better than Alphabet › Diversification, shmiversification. Billionaire Bill Ackman doesn't subscribe to the theory that he needs to own lots of stocks to be successful. His Pershing Square Capital Management hedge fund holds positions in a total of only 12 stocks. Nearly one-third of Ackman's $11.9 billion portfolio is invested in three magnificent growth stocks. Ackman now has a new top stock in his portfolio. In February, he revealed via a social media post on X (formerly Twitter) that Pershing Square was buying shares of Uber Technologies (NYSE: UBER). Pershing Square still owned 30.3 million Uber shares worth roughly $2.21 billion at the end of the first quarter of 2025. This stake in the ride-hailing services company made up 18.5% of the hedge fund's portfolio, edging out Brookfield Corp. as its largest holding. Ackman's X post mentioned several reasons he invested in Uber. First, the billionaire said he was "a longtime customer and admirer" of the company. That fits squarely into the philosophy espoused by legendary investor Peter Lynch of buying what you know. Ackman also called Uber "a highly profitable and cash-generative growth machine." Arguably, its valuation was the most important factor in his decision to buy the stock. Ackman thought Uber traded at a steep discount to its intrinsic value. However, since his social media post, the stock has soared. An additional 14% of Pershing Square's portfolio is invested in another technology giant. But that percentage is split across two shares. Ackman owns both Alphabet Class A shares (NASDAQ: GOOGL) and Alphabet Class C shares (NASDAQ: GOOG). He first invested in the Google parent company in early 2023. Many were skeptical about Google's prospects in the aftermath of OpenAI's launch of ChatGPT. Some even predicted that the generative artificial intelligence (AI) technology popularized by ChatGPT presented an existential threat to Google Search. Ackman disagreed. He quickly took advantage of Alphabet's sell-off and built a large position in its two stocks. Today, the company's Class A and Class C shares combined make it Pershing Square's third-largest position. That move has paid off nicely despite Alphabet's poor stock performance in 2025. Interestingly, Ackman has both bought and sold Alphabet recently. He increased his hedge fund's stake in the Class A shares by around 11.3% in Q1 but reduced its position in the Class C shares by 16.2%. Not everyone agrees with Ackman about Uber's valuation. The stock trades at nearly 32.6 times forward earnings. Its price-to-earnings-to-growth (PEG) ratio, which is based on analysts' five-year earnings growth estimates, is a sky-high 14.5. AlphaSpread's discounted cash flow (DCF) model puts Uber's intrinsic value at roughly 18% below its current share price. However, calculating an intrinsic value uses many assumptions. SimplyWallSt estimates that Uber is undervalued by nearly 47%. Ackman would probably agree more with the assumptions used in that analysis than he would with AlphaSpread's. My problem with buying Uber stock right now, though, is that I'm not sure which assumptions are closer to being right. What about Alphabet? The company faces some uncertainties, especially with the antitrust rulings that have gone against it. But I like Google Cloud's growth prospects with the rapid adoption of generative AI. I like the potential for Alphabet's self-driving car business, Waymo (which has partnered with Uber, by the way). I also predict that Google Search will continue to integrate with AI to improve its capabilities and hold on to the massive user base that attracts advertising revenue. Overall, I view Alphabet as the best pick in Ackman's portfolio. Before you buy stock in Alphabet, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Alphabet wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $639,271!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $804,688!* Now, it's worth noting Stock Advisor's total average return is 957% — a market-crushing outperformance compared to 167% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 19, 2025 Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Keith Speights has positions in Alphabet. The Motley Fool has positions in and recommends Alphabet, Brookfield, Brookfield Corporation, and Uber Technologies. The Motley Fool has a disclosure policy. Nearly One-Third of Billionaire Bill Ackman's $11.9 Billion Portfolio Is Invested in These 3 Magnificent Growth Stocks was originally published by The Motley Fool
The Star
20-05-2025
- Business
- The Star
Dubai's red-hot real estate attracts big name backers
Iconic view: The Sheikh Zayed Road is seen with Dubai's iconic skyline illuminated in the background. — AP DUBAI: Dubai's real estate market – where property values have surged 70% in the last four years – is starting to entice a slew of new Wall Street investors. Brookfield Corp is weighing plans to develop a mixed-use community in the Dubai Hills neighbourhood, which would be its first residential real estate bet in the region, according to sources. A property manager owned by Singapore's Temasek Holdings is also currently scouting for investments in the city, some of the sources said. They would be joining the likes of Goldman Sachs Group and Asia-based asset manager Hillhouse Investment, which have both recently ploughed millions into the emirate's real estate. They have all been drawn by the surge in activity taking place across Dubai. In the last 24 months, the city recorded eight office building sales – more than the previous 10 years combined. The same goes for hotel transactions, where 15 deals took place in the past 30 months, according to real estate consultancy Knight Frank. 'The past two years have been busier for us than the whole previous decade on the capital market side,' said Andrew Love, head of capital markets and commercial agency at Knight Frank. 'Demand is growing from overseas buyers who are coming in search of better returns and lower taxes.' It is a far cry from the years following the financial crisis, when the image of hundreds of luxury cars left abandoned at Dubai International Airport by expats who could not keep up with their debts was etched into the minds of institutional investors around the world. It had been a visceral reminder of the boom-and-bust nature of the real estate market in the city, where the population is still dominated by foreigners to this day. Dubai's turnaround started in the aftermath of the pandemic when the city reopened earlier than others, drawing scores of wealthy tourists and investors to its sunny shores. The government's introduction of more liberal visa policies poured more fuel on that rally. After Russia's invasion of Ukraine, many of the country's wealthy moved some of their cash to the city in an effort to shield their assets from sanctions and tighter capital controls at home. They were soon joined by loads of newly minted crypto millionaires and hedge fund managers who were lured to Dubai by the emirate's low tax regime and a time zone that allows workers to trade across Asian, European and US hours. Taken together, the moves have sparked an unprecedented surge in residential and commercial real estate values. In the first quarter of 2025, before US President Donald Trump's trade war weighed on investor sentiment and contributed to a plunge in oil prices, Dubai notched record sales of homes valued above US$10mil. Brookfield began furthering its foray into Dubai's real estate market in 2020. Back then, the asset manager – along with its partner Investment Corporation of Dubai (ICD) – opened ICD Brookfield Place, Dubai's largest office tower. The building quickly filled up and now commands the city's highest commercial rents; in 2024, Brookfield was able to offload a 49% stake in the tower in a deal valuing the property at US$1.5bil. Now, the Canadian firm is weighing plans to build residential towers alongside offices and retail space that it would make available to rent in Dubai Hills, an area known for its luxury villas. Then there is Mapletree Investments, a property manager owned by Singapore's sovereign wealth fund Temasek. The firm's hoping to deploy about US$2bil in the Gulf region after opening an office in Abu Dhabi in 2024, other sources said. Inside Blackstone, executives have also held preliminary discussions across the Middle East region about commercial real estate investments, the sources said. — Bloomberg
Yahoo
18-05-2025
- Business
- Yahoo
Dubai's Red-Hot Real Estate Is Starting to Attract Big Name Backers
(Bloomberg) -- Dubai's real estate market - where property values have surged 70% in the last four years - is starting to entice a slew of new Wall Street investors. As Coastline Erodes, One California City Considers 'Retreat Now' How a Highway Became San Francisco's Newest Park Maryland's Credit Rating Gets Downgraded as Governor Blames Trump America, 'Nation of Porches' Power-Hungry Data Centers Are Warming Homes in the Nordics Brookfield Corp. is weighing plans to develop a mixed-use community in the Dubai Hills neighborhood, which would be its first residential real estate bet in the region, according to people familiar with the matter. A property manager owned by Singapore's Temasek Holdings Pte. is also currently out scouting for investments in the city, some of the people said. They'd be joining the likes of Goldman Sachs Group Inc. and the Asia-based asset manager Hillhouse Investment, which have both recently plowed millions into the emirate's real estate. They've all been drawn by the surge in activity taking place across Dubai. In the last 24 months, the city recorded eight office buildings sales — more than the previous 10 years combined. The same goes for hotel transactions, where 15 deals took place in the past 30 months, according to the real estate consultancy Knight Frank. 'The past two years have been busier for us than the whole previous decade on the capital market side,' said Andrew Love, head of capital markets and commercial agency at Knight Frank. 'Demand is growing from oversees buyers who are coming in search of better returns and lower taxes.' It's a far cry from the years following the financial crisis, when the image of hundreds of luxury cars left abandoned at Dubai International Airport by expats who couldn't keep up with their debts was etched into the minds of institutional investors around the world. It had been a visceral reminder of the boom-and-bust nature of the real estate market in the city, where the population is still dominated by foreigners to this day. Newfound Enthusiasm Dubai's turnaround started in the aftermath of the pandemic when the city reopened earlier than others, drawing scores of wealthy tourists and investors to its sunny shores. The government's introduction of more liberal visa policies poured more fuel on that rally. After Russia's invasion of Ukraine, many of the country's wealthy moved some of their cash to the city in an effort to shield their assets from sanctions and tighter capital controls at home. They were soon joined by loads of newly-minted crypto millionaires and hedge fund managers who were lured to Dubai by the emirate's low-tax regime and a time zone that allows workers to trade across Asian, European and US hours. Taken together, the moves have sparked an unprecedented surge in residential and commercial real estate values. In the first quarter of this year, before US President Donald Trump's trade war weighed on investor sentiment and contributed to a plunge in oil prices, Dubai notched record sales of homes valued above $10 million. Brookfield began furthering its foray into Dubai's real estate market in 2020. Back then, the asset manager - along with its partner Investment Corp. of Dubai — opened ICD Brookfield Place, Dubai's largest office tower. The building quickly filled up and now commands the city's highest commercial rents; last year, Brookfield was able to offload a 49% stake in the tower in a deal valuing the property at $1.5 billion. Now, the Canadian firm is weighing plans to build residential towers alongside offices and retail space that it would make available to rent in Dubai Hills, an area known for its luxury villas. Then there's Mapletree Investments Pte, a property manager owned by Singapore's sovereign wealth fund Temasek. The firm's hoping to deploy about $2 billion in the Gulf region after opening an office in Abu Dhabi last year, other people familiar with the matter said. Inside Blackstone Inc., executives have also held preliminary discussions across the Middle East region about commercial real estate investments, the people familiar with the matter said. They'd be in the company of a bevy of other big name backers that have invested across the city. In April, Goldman's asset management arm plowed $25 million into the UAE's Sunset Hospitality Group to allow the hotelier to expand its portfolio of resorts in the region. Hillhouse this month made its debut investment in the region when its unit Rava Partners acquired the real estate of Hartland International School in Dubai, in a deal valuing the property at $100 million. In nearby Abu Dhabi, Aldar Properties — the city's biggest listed developer — raised $500 million from Apollo Global Management Inc. in January in one of the region's largest-ever corporate hybrid private placements. The deal meant Apollo has led investments totaling $1.9 billion in Aldar across four transactions since 2022. The latest investment underscores Apollo's 'commitment to serving as a leading capital provider to the broader Abu Dhabi ecosystem,' Jamshid Ehsani, a partner at Apollo, said in a statement announcing the news. Representatives for Mapletree, Brookfield and Blackstone declined to comment. Lack of Supply One major problem remains for the overseas asset managers, insurers and pension funds looking to invest in the city's real estate: finding revenue-generating assets that they are actually able to purchase. To this day, many of the city's buildings are owned by wealthy Emirati families or government entities, who are keen to hold onto the lucrative assets. That's forcing many funds and investors to consider investing in new developments. 'The institutional money wants to be here and is starting to arrive, but the challenge is stock to sell,' Knight Frank's Love said. 'Most of the offices have been built by government and semi-government entities,' he said, adding that means there is a 'lack of Grade A buildings to acquire, which means there is lack of market depth, which an institution requires to make it worth their while to enter the market.' Getting Traction So far, that risk hasn't hindered Martin Linder, who's Global Partners Limited has raised over $350 million for its second fund after securing investments from American family offices, two German pension fund and a prominent Singaporean institution. For Linder, it's a stark reversal from when he was raising Global Partner's first fund, when he spent six months in Boston trying to convince a myriad of investors of Dubai's potential. At the time, few were swayed by a market they knew little about, he said. Linder ultimately did raise more than $200 million that first go around and used it to construct two residential buildings on Dubai's Water Canal. After that first fund started paying out investors over time, conversations with backers got easier. 'We get cold calls from high profile family offices from the United States,' Linder said. 'They've heard from other offices. Their allocations are also getting bigger.' --With assistance from Nicolas Parasie and Low De Wei. Microsoft's CEO on How AI Will Remake Every Company, Including His Cartoon Network's Last Gasp DeepSeek's 'Tech Madman' Founder Is Threatening US Dominance in AI Race As Nuclear Power Makes a Comeback, South Korea Emerges a Winner Tariffs Won't Reindustrialize America. Here's What Will ©2025 Bloomberg L.P.
Yahoo
18-05-2025
- Business
- Yahoo
Dubai's Red-Hot Real Estate Is Starting to Attract Big Name Backers
(Bloomberg) -- Dubai's real estate market - where property values have surged 70% in the last four years - is starting to entice a slew of new Wall Street investors. As Coastline Erodes, One California City Considers 'Retreat Now' How a Highway Became San Francisco's Newest Park Maryland's Credit Rating Gets Downgraded as Governor Blames Trump America, 'Nation of Porches' Power-Hungry Data Centers Are Warming Homes in the Nordics Brookfield Corp. is weighing plans to develop a mixed-use community in the Dubai Hills neighborhood, which would be its first residential real estate bet in the region, according to people familiar with the matter. A property manager owned by Singapore's Temasek Holdings Pte. is also currently out scouting for investments in the city, some of the people said. They'd be joining the likes of Goldman Sachs Group Inc. and the Asia-based asset manager Hillhouse Investment, which have both recently plowed millions into the emirate's real estate. They've all been drawn by the surge in activity taking place across Dubai. In the last 24 months, the city recorded eight office buildings sales — more than the previous 10 years combined. The same goes for hotel transactions, where 15 deals took place in the past 30 months, according to the real estate consultancy Knight Frank. 'The past two years have been busier for us than the whole previous decade on the capital market side,' said Andrew Love, head of capital markets and commercial agency at Knight Frank. 'Demand is growing from oversees buyers who are coming in search of better returns and lower taxes.' It's a far cry from the years following the financial crisis, when the image of hundreds of luxury cars left abandoned at Dubai International Airport by expats who couldn't keep up with their debts was etched into the minds of institutional investors around the world. It had been a visceral reminder of the boom-and-bust nature of the real estate market in the city, where the population is still dominated by foreigners to this day. Newfound Enthusiasm Dubai's turnaround started in the aftermath of the pandemic when the city reopened earlier than others, drawing scores of wealthy tourists and investors to its sunny shores. The government's introduction of more liberal visa policies poured more fuel on that rally. After Russia's invasion of Ukraine, many of the country's wealthy moved some of their cash to the city in an effort to shield their assets from sanctions and tighter capital controls at home. They were soon joined by loads of newly-minted crypto millionaires and hedge fund managers who were lured to Dubai by the emirate's low-tax regime and a time zone that allows workers to trade across Asian, European and US hours. Taken together, the moves have sparked an unprecedented surge in residential and commercial real estate values. In the first quarter of this year, before US President Donald Trump's trade war weighed on investor sentiment and contributed to a plunge in oil prices, Dubai notched record sales of homes valued above $10 million. Brookfield began furthering its foray into Dubai's real estate market in 2020. Back then, the asset manager - along with its partner Investment Corp. of Dubai — opened ICD Brookfield Place, Dubai's largest office tower. The building quickly filled up and now commands the city's highest commercial rents; last year, Brookfield was able to offload a 49% stake in the tower in a deal valuing the property at $1.5 billion. Now, the Canadian firm is weighing plans to build residential towers alongside offices and retail space that it would make available to rent in Dubai Hills, an area known for its luxury villas. Then there's Mapletree Investments Pte, a property manager owned by Singapore's sovereign wealth fund Temasek. The firm's hoping to deploy about $2 billion in the Gulf region after opening an office in Abu Dhabi last year, other people familiar with the matter said. Inside Blackstone Inc., executives have also held preliminary discussions across the Middle East region about commercial real estate investments, the people familiar with the matter said. They'd be in the company of a bevy of other big name backers that have invested across the city. In April, Goldman's asset management arm plowed $25 million into the UAE's Sunset Hospitality Group to allow the hotelier to expand its portfolio of resorts in the region. Hillhouse this month made its debut investment in the region when its unit Rava Partners acquired the real estate of Hartland International School in Dubai, in a deal valuing the property at $100 million. In nearby Abu Dhabi, Aldar Properties — the city's biggest listed developer — raised $500 million from Apollo Global Management Inc. in January in one of the region's largest-ever corporate hybrid private placements. The deal meant Apollo has led investments totaling $1.9 billion in Aldar across four transactions since 2022. The latest investment underscores Apollo's 'commitment to serving as a leading capital provider to the broader Abu Dhabi ecosystem,' Jamshid Ehsani, a partner at Apollo, said in a statement announcing the news. Representatives for Mapletree, Brookfield and Blackstone declined to comment. Lack of Supply One major problem remains for the overseas asset managers, insurers and pension funds looking to invest in the city's real estate: finding revenue-generating assets that they are actually able to purchase. To this day, many of the city's buildings are owned by wealthy Emirati families or government entities, who are keen to hold onto the lucrative assets. That's forcing many funds and investors to consider investing in new developments. 'The institutional money wants to be here and is starting to arrive, but the challenge is stock to sell,' Knight Frank's Love said. 'Most of the offices have been built by government and semi-government entities,' he said, adding that means there is a 'lack of Grade A buildings to acquire, which means there is lack of market depth, which an institution requires to make it worth their while to enter the market.' Getting Traction So far, that risk hasn't hindered Martin Linder, who's Global Partners Limited has raised over $350 million for its second fund after securing investments from American family offices, two German pension fund and a prominent Singaporean institution. For Linder, it's a stark reversal from when he was raising Global Partner's first fund, when he spent six months in Boston trying to convince a myriad of investors of Dubai's potential. At the time, few were swayed by a market they knew little about, he said. Linder ultimately did raise more than $200 million that first go around and used it to construct two residential buildings on Dubai's Water Canal. After that first fund started paying out investors over time, conversations with backers got easier. 'We get cold calls from high profile family offices from the United States,' Linder said. 'They've heard from other offices. Their allocations are also getting bigger.' --With assistance from Nicolas Parasie and Low De Wei. Microsoft's CEO on How AI Will Remake Every Company, Including His Cartoon Network's Last Gasp DeepSeek's 'Tech Madman' Founder Is Threatening US Dominance in AI Race As Nuclear Power Makes a Comeback, South Korea Emerges a Winner Tariffs Won't Reindustrialize America. Here's What Will ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
18-05-2025
- Business
- Bloomberg
Dubai's Red-Hot Real Estate Is Starting to Attract Big Name Backers
Dubai's real estate market - where property values have surged 70% in the last four years - is starting to entice a slew of new Wall Street investors. Brookfield Corp. is weighing plans to develop a mixed-use community in the Dubai Hills neighborhood, which would be its first residential real estate bet in the region, according to people familiar with the matter. A property manager owned by Singapore's Temasek Holdings Pte. is also currently out scouting for investments in the city, some of the people said.
