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May 31, 2024
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BAM is public and owns BPG as well as Infra assets. BPG invests in real estate assets; you'll find traditional RE AM roles there where work will focus on specific properties in specific regions.
BAM's work includes fundraising, fund development, corporate, and investor relations work for assets managed by BPG and its other investment arms. It essentially packages the investments made by its multiple subsidiaries into fund-type assets for public and private institutional investors.
BAM also spun off Brookfield Property Partners which manages commercial real estate development separate from BPG (which includes residential and retail). I may be oversimplifying, but hopefully you get the gist.
I think roles wise, it's different worlds. Not sure what type of work you are looking for.
I'm not looking. Just wondering. When I look at PERE's Top 50 Real Estate Private Equity Funds and I see Brookfield at Number 3 (e.g. BREF V), is that fund housing in BAM, BPG, BPP, etc? Also, does Brookfield's REPE Fund have the same reputation as a Blackstone or Starwood?
Without much research, the fund itself would probably sit at either BAM or BPP, because BPG would not be involved in fund creation and marketing. It seems like BPP focuses more on commercial and hospitality, with an emphasis on Core offerings (i.e. stable offerings that are correctly priced, and generate cash) with some opportunistic offerings. BAM has a bigger focus on Opportunistic, value-add, and traditional PE offerings (which involve leverage and operational improvements).
In terms of recognition on the street, Brookfield and Blackstone are top tier. Other firms may have successful funds or successful investments but the level of prestige that Brookfield and Blackstone carry is head and shoulders above the rest.
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