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In Good Company with Nicolai Tangen

Brookfield CEO: Private vs. public markets, investment style and value creation

In Good Company with Nicolai Tangen

Norges Bank Investment Management

In Good Company, Business, Norges Bank, Nicolai Tangen

4.8186 Ratings

🗓️ 13 December 2023

⏱️ 49 minutes

🧾️ Download transcript

Summary

Bruce Flatt became the CEO of Brookfield in 2002 when the company was primarily a Canadian-based real estate firm with a market value of $5 billion. Under his leadership, it transformed into a global alternative asset manager, managing over $850 billion in assets across various sectors: real estate, infrastructure, renewable energy, private equity, and credit. In light of such diverse investments, what are the benefits of investing in private markets? What are the major global megatrends shaping these investments? And what qualities define a good investor? 

The production team on this episode were PLAN-B's Nikolai Ovenberg and Niklas Figenschau Johansen. Background research was done by Sigurd Brekke with input from portfolio manager Erlend Kvendseth.


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Transcript

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0:00.0

Hi everybody. I'm here with Bruce Flats, and it's really, really an honor to have you here.

0:05.8

With $850 billion of assets, you are actually one of the largest alternative asset managers in the world.

0:12.4

You've been here for more than 20 years and still going strong.

0:16.2

And some people refer to you as the Warm Buffet of Canada, which is a pretty cool comparison.

0:21.1

So pleasure to have you on.

0:22.2

Thank you.

0:22.8

Thank you for having me.

0:28.3

Now, I wanted to start with a big question.

0:34.0

So you have identified three megatrans as a firm, decarbonization,

0:39.8

de-globalization, and digitalization. So if we start then with decarbonization, what are the

0:44.6

investment opportunities in that field? Look, the most interesting thing that's going on in the world

0:50.2

today is that, and to put it in the most simplest terms, the age of gas and oil fueled

1:00.3

everything.

1:02.1

And what we now need to do is take carbon out of the energy system and industrial processes

1:08.4

in the world.

1:10.0

And really, it's just taking carbon out.

1:13.1

And it's not that you have to have no carbon, it's you just have to have less.

1:18.1

And the easiest way to do that is to build, instead of using gas plants or thermal

1:25.7

coal plants, is to have renewables.

1:29.6

That's the simplest way.

1:31.2

But there are many other processes.

1:33.2

And we identified early that because we were in the renewables business, that this was a

...

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