Brookfield Asset Management Inc. is an asset management company focused on the real estate, energy and infrastructure industries. Headquartered in Toronto, Brookfield also has major offices in New York, London and Rio de Janeiro.
To expand its real-estate business in North America, Brookfield acquired GMAC Home Services in late 2008. This was the second acquisition Brookfield made that year in which the divesting company was a U.S. auto manufacturer: The company acquired the Twin Cities hydroelectric plant from Ford in 2008 as well.
Despite its status as a publicly traded company that manages more than $80 billion in assets as of Q4 2008, Brookfield keeps a relatively low profile in the press. Among the better-known properties of its Brookfield Properties Corp. subsidiary are Manhattan's World Financial Center, Toronto's Brookfield Place, Calgary's Bankers Hall and Los Angeles's Bank of America Plaza. In New York City, it also developing Midtown West, the area just west of Penn Station, which includes the redevelopment of the Farley Post Office as the new Moynihan Station.