Our unique approach to private equity is rooted in our history of owning and operating real assets for over a century. We use our operating expertise to work with management teams to create value. “What differentiates us is we are very hands-on in the way we operate and manage the businesses—it’s in our DNA,” said Cyrus Madon, who runs our private equity business.
The Private Equity Story
Greenergy fuel pump
Graftech storage facility
We also have a global reach—and private equity employees in each region we invest in, searching for potential acquisitions across the globe. Coupled with our long history in real-asset-related businesses, our global presence provides deep insight into the key drivers and detractors of economic and business growth—from raw materials to the final product or service.
Our private equity focus is on large-scale acquisitions of businesses that are sound but need an operational overhaul. For example, we acquired Clarios, the largest automotive battery manufacturer in the world, in 2018, and CDK Global, a leading provider of technology services and software solutions for the automotive dealer industry in 2022. We believe this strategy generates strong returns through a combination of dividends and capital appreciation. Despite private equity being a crowded space, our culture of patience and prudent capital allocation continues to serve us well and has built our private equity business into one of Brookfield’s premier franchises.
Insider View: Jaspreet Dehl Private Equity, Toronto
After joining Brookfield in 2005, Jaspreet Dehl left for a few years before returning in 2010. “Returning to Brookfield was the best decision I ever made in terms of my career,” she said. “I love the culture of the place. There are a lot of bright people here, there is a lot to learn, and there aren’t a lot of barriers.”
The diversity of our businesses and our global footprint also appealed to Dehl. “You get to know a lot of businesses,” she said.
Now that she’s in a leadership role, Dehl encourages employees to take initiative and have an entrepreneurial mindset. “That’s what really distinguishes the people who are successful here,” she said.
Case Study: Clarios
In 2019, we acquired Clarios, the world’s largest car battery manufacturer, for $13.2 billion. Clarios’ batteries are designed so that as much as 99% of the materials can be recovered and reused. The company has worked with customers and partners to develop a closed-loop collection system that is a model for the circular economy worldwide.
We saw an opportunity for our capital and expertise to help the 130-year-old company invest in the push toward electric and autonomous vehicles.
The company’s sales are driven by steady demand and consistent growth across all its markets—a trend that’s likely to continue. The number of cars on the road is expected to grow by 30% over the next decade, and the power demands of those vehicles will only increase as fleets are electrified and vehicles become more complex.
