Brookfield Asset Management Inc Q2 2021 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Cherilyn Radbourne - TD Securities Equity Research - Analyst : I was hoping if you could give a bit more color on Brookfield Oaktree wealth solutions and how that compares versus how the company was accessing the wealth channel previously, including whether that team is global or primarily focused on North America for now?

Question: Cherilyn Radbourne - TD Securities Equity Research - Analyst : And so just as a follow-up, beyond that non-traded REIT, would you anticipate creating other products specifically for the wealth channel? And just what would be the interplay between those products and your listed affiliates?

Question: Sohrab Movahedi - BMO Capital Markets Equity Research - Analyst : First, just for Sachin. I think you noted that you are at around circa $40 billion. At the Investor Day, you talked about an opportunity for reinsurance in the $100 billion to $200 billion. So I was -- first of all, I wanted to just confirm that the opportunity set of $100 billion to $200 billion is still a good guidepost. And then secondarily, if you think to be able to realize on that, maybe at the upper end of that, if you think you will still have to do some, I'll call it, business acquisition as opposed to reinsurance portfolio purchases.

Question: Sohrab Movahedi - BMO Capital Markets Equity Research - Analyst : Okay. And maybe if I can get one in for Bruce as well. I mean, Bruce, when you kind of zoom out, obviously, lots happening around the world since the pandemic was declared, I don't know, 1.5 years ago. When you think about all the puts and takes, how has your business fared? Would you say BAM has been a COVID winner here? Do you think the acceleration of maybe dispositions is the biggest net positive over here? Or how should we be thinking about the key drivers of your business and how they were impacted over the last year?

Question: Geoffrey Kwan - RBC Capital Markets, Research Division - Analyst : On the global transition fund, just I wanted to see what types of opportunities you're seeing in the near-term to start making new investments, but also, 2, is how the competitive environment for winning those deals and how it may be different or maybe not versus the other types of deals you would do in your other platforms? In other words, is there less competition? Are you seeing more proprietary situations, that sort of thing?

Question: Geoffrey Kwan - RBC Capital Markets, Research Division - Analyst : Great. And then my just -- my second question was one of the key messages this year has been we should expect to see a lot of monetization activity. And so far, that's been the case. And then that, I kind of got 2-part questions. First off, of the assets that you've monetized, how would you describe the realized sale values versus what you expected? And then secondly, of the assets you had planned to monetize in 2021, kind of ballpark, like how much have you monetized so far?