2024-07-01 16:12:09 ET
Summary
- After the spin-off, BAM has underperformed other alternative asset managers such as KKR, Blackstone, and Ares.
- BAM's TTM fee revenue and fee-related earnings showed slower growth compared to a year ago, and its valuation is even more expensive than Ares, which experienced significantly faster growth.
- Because I see competitors with higher growth and political risks in BAM's renewable business line from a Trump presidency, I rate this stock as a sell.
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Brookfield Asset Management: Slower Growth Compared To Other Alternative Asset Managers