I have long admired Brookfield Asset Management’s ability to generate strong returns for its shareholders and to understand the long-term trends and invest aggressively in them when they get the opportunity. That’s what makes these top PE firms so important in difficult markets. They have the cash, interest, and time to think long-term and to think big when the opportunities arise.

From todays earnings call, here’s yet another example of their superior investment acumen. Westinghouse, a former darling, filed for BK, BAM came in, added significant investments, turned the business around, get it growing again and it’s now in-line to win big from massive global infrastructure spend on renewables and nuclear. Great read here. They invested $4 billion initially in 2018, added another $1B plus $3B of debt financing and just transferred the asset to another one of their funds paying $8B and offering a 6x return to their PE business and 60% CAGR IRR for investors. That’s how the best investors do it!