A brief overview of the last few years at Brookfield $BN (+0,3 %) Investment timeline (2020 - 2026)

2020: Strategic hedging & logistics

💥 Oaktree Capital Integration: Start of massive use of credit funds for undervalued assets during the pandemic.

💥 Genesee & Wyoming: Completion of the acquisition of the global rail network for regional logistics.

2021: Infrastructure offensive

💥 Inter Pipeline: Acquisition of the Canadian energy infrastructure giant for around CAD 8 billion.

💥 Modulaire Group: acquisition of the European market leader for modular room systems for €5 billion.

2022: The year of upheaval (semiconductors & insurance)

💥 Intel "Project Scorpion": 15 billion dollar partnership to co-finance semiconductor fabs in Arizona.

💥 CDK Global: Acquisition of the automotive retail software giant for USD 8.3 billion.

💥 American National: Entry into the insurance market with a USD 5.1 billion takeover.

💥 The big spin-off: legal separation of Brookfield Corporation (BN) from the asset manager (BAM).

2023: Nuclear power & digital base

💥 Westinghouse Electric: Entry into the nuclear power renaissance through a 7.9 billion dollar takeover.

💥 Data4 & Compass Datacenters: Massive expansion into the backbone of the internet through European and US data centers.

💥 Network International: Acquisition of the leading payment processor in the Middle East for £2.2 billion.

💥 HomeServe: Acquisition of the British infrastructure service provider for £4.1 billion.

2024: The AI energy deal

💥 Microsoft Cloud partnership: contract to build 10.5 GW of renewable energy worldwide.

💥 American Equity Investment Life (AEL): Completion of the USD 4.3 billion takeover in the insurance sector

💥 Neoen: Acquisition of the French solar and wind farm giant for €6.1 billion.

2025: Self-sufficient AI infrastructure

Bloom Energy: USD 5 billion investment in fuel cells for off-grid AI data centers.

💥 Clarus Group: Acquisition of New Zealand gas infrastructure for NZD 2 billion to secure local energy supply

💥 AI Infrastructure Fund: Launch of the first dedicated USD 10 billion fund for GPUs and fiber optics.

2026: The new era (as of today)

💥 Connor Teskey: Official takeover of the CEO position at BAM to steer the next phase of growth.

💥 Peakstone Realty Trust: Completion of the acquisition of an industrial real estate portfolio for USD 1.2 billion.

💥 AI Supercycle: Focus on the vertical integration of energy generation directly at data centers.

$BN (+0,3 %)

I think the ongoing oil crisis will have a positive impact on Brookfield in the long term.

For all those who wondered why we started Monday in such deep red: Citrini Research published a report on February 22, 2026 describing a possible scenario in which AI could trigger a global economic crisis. Many of the companies mentioned in the report fell significantly at the start of the week.

https://www.citriniresearch.com/p/2028gic

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$BN (+0,3 %)

Brookfield $BN (+0,3 %) delivered solid figures this week. As there is not yet such a detailed company presentation here on getquin, I would like to give you a brief overview:

Founded in 1899 as an energy supplier in Brazil, Brookfield Corporation
$BN (+0,3 %) has developed into one of the world's most powerful alternative asset managers. With assets under management of over 1 trillion USD the company is the "backbone" of the global economy. The ecosystem rests on three pillars:

Asset management: Highly profitable fee income.

Wealth Solutions: A massive insurance arm that generates "float" capital.

Operating Businesses: Real tangible assets in renewable energy, infrastructure and real estate.

Distributable Earnings (DE) as a financial measure

If you look at this clear chart, DE (Distributable Earnings) is mentioned again and again. For most companies, the net profit (net income) is the most important figure. Brookfield is different. Since Brookfield invests heavily in real assets such as real estate and infrastructure, they have to "depreciate" them every year according to accounting rules (GAAP/IFRS). This reduces the net profit on paper enormously, even though the buildings or power plants often increase in value in reality.

DE, on the other hand, shows the real cash flow that actually ends up in the bank account at the end of the day and can be used for three things:

Payment of dividends to us shareholders.

Repurchase of own shares.

Reinvestment in new, lucrative projects.

Brookfield also often distinguishes between "DE before realizations" (the stable cash flow from ongoing operations) and the "realizations" (the profits from the sale of completed projects).

Examples of European AI & infrastructure projects

As mentioned at the beginning, Brookfield primarily wants to invest in critical infrastructure. This includes, for example, entire gas pipelines, nuclear power plants and data centers.

While many are talking about NVIDIA chips, Brookfield is building the "factories" for them. I personally find this extremely interesting, especially in Europe BN sets gigantic standards and (almost nobody) talks about it:

• France: A 20 billion euro programwhich includes the country's largest "AI Factory" (1 GW capacity).
• Sweden: An investment of 10 billion USD in a massive AI infrastructure hub in Strängnäs (750 MW capacity).
• Data center power: Via the platform Data4 platform, Brookfield operates more than 30 data centers in France, Spain, Italy and Luxembourg - all of which are currently being upgraded to meet the extreme requirements of AI.
• Partnerships: Deals with Nvidia and Google secure the purchase of gigawatts of green energy in Europe and the USA

Earnings check: Q4 2025 & outlook

The latest report shows a profit machine in ramp-up:

• Record results: Full-year distributable earnings (DE) rose to USD 5.4 billion (before realizations) - an increase of 11 % per share.
• Capital magnet: In 2025 alone, Brookfield raised USD 112 billion in new capital.
• The "carry" wave: For the years 2026-2028, management expects realized gains (carried interest) of USD 6 billion.

An alternative AI/energy/infrastructure investment

Brookfield is not a "quick trade", but a compound interest machine. With USD 188 billion in gunpowder for investment and positioning itself as a global power provider for the AI boom, BN is the ultimate infrastructure play for me. As an alternative asset manager, Brookfield has strong ties to various governments and always manages to position itself to secure 10, 15 and 20 year contracts with extremely good terms for itself and its shareholders. The management estimates the intrinsic value at 68 USD (currently 48$ -> approx. 40% upside) - at the current price I still see massive potential here. The more I deal with Brookfield and especially the CEO Bruce Flatt, the more I am convinced that this is a buy & hold candidate whose goal is to grow at least 15% per year.

That should be it for now with a small overview, I think I will make posts on specific projects in the near future from $BN (+0,3 %)

https://bn.brookfield.com/sites/brookfield-bn-v2/files/BN-IR-Master/Supplemental-Information/2026/2025%20-%20Q4%20BN%20Supplemental_vF.pdf

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I don't know who wrote it but Brookfield $BN (+0,3 %) has written a good report on their investment approach for 2026.

https://www.brookfield.com/2026-investment-outlook

I haven't read it myself yet, but for the curious here's something to read

Deutsche Telekom $DTE (+1,53 %) and the Lidl parent company Schwarz Group want to pull together and build a large data center in Germany.

As reported by Handelsblatt, the two companies are holding talks about an AI Factory in order to apply for EU funding.

A Canadian financial investor $BN (+0,3 %) could come on board as a financial backer.

According to Handelsblatt, negotiations are already at an advanced stage.

A Telekom spokesperson said that the company was interested in Gigafactorys in principle. However, he did not want to comment on the specific case, nor did a Schwarz spokesperson.

In the digital age, data requirements are increasing massively and artificial intelligence (AI) applications are hungry for data, including for training their language models. This requires new data centers, which are to be built in Germany or other EU countries and thus make Europe less dependent on the USA.

Deutsche Telekom and the Schwarz Group have already increased their efforts in the area of AI data centers, and the joint project is now set to step up the pace.

At the beginning of November, Telekom announced in Berlin that it would be entering into the construction and operation of AI data centers on a large scale.

At that time, Deutsche Telekom CEO Tim Höttges announced the launch of a joint project with the chip company Nvidia $NVDA (-0,69 %) in which an AI factory is to be built in Munich for more than one billion euros.

"Without AI, you can forget about the industry," said Höttges a month ago. "Without AI, you can forget about Germany as a business location."

The Deutsche Telekom CEO pointed out that only five percent of high-performance AI chips are currently used in Europe and 70 percent in the USA.

Höttges emphasized that the data in the Munich AI cloud should remain entirely in Germany. Only employees from Germany and Europe would be involved in handling the data.

$BP. (+1,66 %)
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$LONEn . $BN (+0,3 %)

Reliance Industries, Apollo Global Management and Lone Star Funds are interested in BP's Castrol lubricants business, which has been put up for sale, according to an agency report.

Bloomberg reports, citing unnamed sources, that the first indicative bids are expected in a few weeks. Saudi Arabia's Aramco is likely to consider a bid. The lubricants business could fetch 8 to 10 billion US dollars. According to the report, BP has already sent information about the business to other potential bidders such as Brookfield Asset Management and Stonepeak Partners.

Representatives for BP, Apollo, Lone Star, Brookfield and Stonepeak declined to comment, while a representative for Reliance did not immediately respond to a request for comment, according to Bloomberg.

BP shares ultimately traded 0.46 percent lower at 4.25 euros in London trading. Reliance shares fell by 1.43 percent to 291.32 US dollars in NYSE trading on Thursday.

DJG/DJN/brb/cln

https://www.finanzen.net/nachricht/aktien/medienbericht-aktien-von-reliance-und-bp-tiefer-bps-castrol-weckt-wohl-interesse-von-reliance-apollo-und-lone-star-14523549

Warren Buffett hands over the baton to Greg Abel. The fact that the legendary investor and CEO of the investment company Berkshire Hathaway $BRK.B (+0,36 %) is stepping down at the age of 94 is something that everyone can understand. For shareholders, however, the transition is fraught with uncertainty, despite all the promises of continuity: Buffett's footsteps are difficult to fill, and what's more, Berkshire - despite its still impressive performance - is also a victim of its own success. With a share portfolio worth around 300 billion dollars, the company is simply a cumbersome tanker.

It is therefore worth taking a look at alternatives. In addition to the Canadian investment holding Brookfield $BN (+0,3 %) the Markel Group ($MKL (-0,24 %) ) is becoming increasingly well-known. With a market capitalization of 21 billion euros, it may be tiny compared to Berkshire, but otherwise there are great similarities. Markel's "base" is also an insurance group, but there is also the investment division, which invests the money according to value criteria. The largest positions are Berkshire Hathaway and Brookfield, followed by Alphabet, Deere and Amazon. The less well-known investments include the air conditioning distributor Watsco, the strategy consultancy Marsh & McLennan and the broker LPL Financial. Baby Berkshire certainly has no track record to hide behind: Over the past ten years, the share price has risen by around 145 percent - with fairly moderate fluctuations.

Source: Focus Money