SCHEDULE 13D/A: Partners Value Investments Reduces Stake in Brookfield Asset Management to Below 5% Following Corporate Arrangement

Partners Value Investments L.P. and Partners Value Split Corp. have filed an exit amendment to their Schedule 13D, reporting a decrease in their beneficial ownership of Brookfield Asset Management Ltd.'s Class A Limited Voting Shares to below 5% following a corporate arrangement.

Summary

• This filing is Amendment No. 1 to the original Schedule 13D filed on December 19, 2022, and serves as an exit filing for the Reporting Persons.
• On February 4, 2025, Brookfield Asset Management Ltd. (the "Issuer") and Brookfield Corporation (the "Corporation") completed a plan of arrangement (the "Arrangement").
• As part of the Arrangement, the Issuer issued 1,194,021,145 Class A Shares to the Corporation and certain of its subsidiaries.
• This share issuance was in exchange for common shares of Brookfield Asset Management ULC held by the Corporation and its subsidiaries on a one-for-one basis.
• Upon completion of the Arrangement, the Issuer has a total of 1,637,198,026 Class A Limited Voting Shares issued and outstanding.
• Partners Value Investments L.P. now beneficially owns 30,807,960 Class A Shares, representing 1.9% of the outstanding class.
• Partners Value Split Corp. now beneficially owns 29,902,862 Class A Shares, representing 1.8% of the outstanding class.
• The Reporting Persons ceased to be the beneficial owner of more than 5% of the Issuer's Class A Shares as of February 4, 2025.

Sentiment

Score: 5

Explanation: The document is a factual compliance filing reporting a change in ownership percentage due to a corporate restructuring. It does not contain information that would typically indicate positive or negative sentiment regarding the company's operational performance or financial health.

Negatives

• The Reporting Persons' percentage ownership of Brookfield Asset Management Ltd.'s Class A Shares decreased from above 5% to below 2% for each entity, diluting their proportionate stake.

Future Outlook

NA

Industry Context

This filing reflects a change in ownership percentage for specific entities within the broader Brookfield corporate structure, stemming from an internal corporate arrangement. Such arrangements are common among large, diversified asset management firms like Brookfield to optimize their organizational and capital structures.

Related Party Transactions

• The "Arrangement" described in the filing is a transaction between Brookfield Asset Management Ltd. (the Issuer) and Brookfield Corporation and its subsidiaries, which are related parties to the Reporting Persons (Partners Value Investments L.P. and Partners Value Split Corp.).

Stakeholder Impact

• Shareholders of Brookfield Asset Management Ltd. will see a significant increase in the total number of Class A Limited Voting Shares outstanding due to the Arrangement.
• The Reporting Persons (Partners Value Investments L.P. and Partners Value Split Corp.) have had their proportionate ownership stake in Brookfield Asset Management Ltd. diluted below the 5% threshold, leading to this exit filing.

Key Dates

Keywords

Brookfield Asset Management Ltd., Partners Value Investments L.P., Partners Value Split Corp., Schedule 13D, SEC filing, ownership change, Class A Limited Voting Shares, corporate arrangement, beneficial ownership, exit filing