Bruce Flatt

Bruce Flatt
Born	James Bruce Flatt 10 6, 1965
Birthplace	Winnipeg, Manitoba, Canada
Nationality	Canadian
Occupation	Business executive, investor
Title	CEO, Brookfield Corporation; Chairman, Brookfield Asset Management
Known for	CEO of Brookfield Asset Management
Education	University of Manitoba (BComm)
Spouse(s)	Lonti Ebers

James Bruce Flatt (born June 10, 1965) is a Canadian businessman, investor, and the chief executive officer of Brookfield Corporation, one of the world's largest alternative asset management firms. Born in Winnipeg, Manitoba, Flatt joined the company then known as Brascan in 1990 and rose through its ranks to become CEO in 2002, a position he held for more than two decades as the firm grew from a mid-sized Canadian conglomerate into a global investment powerhouse with over one trillion dollars in assets under management. Under his leadership, Brookfield expanded into real estate, infrastructure, renewable energy, and private equity across more than 30 countries. Flatt has frequently been referred to as "Canada's Warren Buffett" owing to his value-oriented investment philosophy, his long tenure atop Brookfield, and his substantial personal stake in the company. In early 2026, Brookfield announced that Connor Teskey would succeed Flatt as CEO of the flagship Brookfield Asset Management arm, with Flatt remaining as chairman of that unit and continuing as CEO of the parent Brookfield Corporation.

Early Life

Bruce Flatt was born on June 10, 1965, in Winnipeg, Manitoba, Canada. He grew up in Manitoba and attended the University of Manitoba, where he earned a Bachelor of Commerce degree. Details about his childhood and family background prior to his entry into the business world have not been extensively documented in public sources. However, Flatt has spoken in interviews about developing an early interest in business and investing, and his upbringing in a Canadian prairie city shaped what colleagues and journalists have described as an understated, no-frills personal style that persisted throughout his career.

After completing his undergraduate studies, Flatt entered the financial services industry in Canada. His early career trajectory led him to Brascan Corporation, the Toronto-based conglomerate that would eventually be renamed Brookfield Asset Management. He joined the firm in 1990, at the age of 25, beginning what would become a career spanning more than three decades at the same organization.

Education

Flatt attended the University of Manitoba in Winnipeg, where he completed a Bachelor of Commerce (BComm) degree. The University of Manitoba's business program provided Flatt with a foundation in finance and commerce that he would apply throughout his career in asset management and investment. Unlike many of his peers at the helm of large global financial firms, Flatt did not pursue a graduate degree such as an MBA, instead opting to enter the workforce directly after his undergraduate studies and learn through direct experience in the industry.

Career

Early Career at Brascan (1990–2002)

Flatt joined Brascan Corporation in 1990. Brascan, headquartered in Toronto, was a diversified holding company with roots stretching back to the early twentieth century, when it was involved in Brazilian utilities and infrastructure — the name itself was a contraction of "Brazil" and "Canada." By the time Flatt arrived, the company had evolved into a conglomerate with interests in real estate, natural resources, and financial services.

Flatt quickly rose through the company's real estate operations. During the 1990s, Brascan and its affiliated companies were active in acquiring real estate assets, often at discounted prices during periods of economic distress. This approach — buying high-quality, cash-generating assets at below replacement cost — became a hallmark of Flatt's investment philosophy. By the late 1990s, Flatt had established himself as one of the firm's most important executives, playing a central role in its property investments across North America.

September 11 and World Financial Center

One of the defining moments in Flatt's early career as a leader came in the aftermath of the September 11 attacks in 2001. At the time, Brookfield Properties — the real estate arm of what was then still Brascan — owned and managed the World Financial Center (later renamed Brookfield Place) in Lower Manhattan, located adjacent to the World Trade Center. The complex suffered significant damage when the Twin Towers collapsed.

In the weeks following the attacks, Flatt and his team faced the enormous challenge of repairing and reopening the complex while many questioned the future viability of Lower Manhattan as a commercial district. Brookfield Properties committed to rebuilding and retaining tenants, a decision that proved consequential as the area eventually recovered and property values rebounded. The experience at the World Financial Center reinforced the company's contrarian approach to investing — maintaining conviction in quality assets during moments of extreme uncertainty.

CEO of Brookfield Asset Management (2002–2026)

Flatt was appointed CEO in 2002, at the age of 37. His ascension to the top role coincided with a period of strategic transformation for the company. In the years that followed, Brascan was rebranded as Brookfield Asset Management, reflecting its evolution from a Canadian conglomerate into a global alternative asset manager.

Under Flatt's leadership, Brookfield pursued an aggressive but disciplined strategy of growth through acquisitions, fund creation, and geographic expansion. The company organized itself around several core verticals: real estate, infrastructure, renewable power, and private equity. Each operated through publicly listed affiliates — such as Brookfield Property Partners, Brookfield Infrastructure Partners, and Brookfield Renewable Partners — which allowed the parent company to raise capital from public markets while maintaining operational control.

Flatt oversaw a series of large-scale acquisitions that expanded Brookfield's global footprint. The firm acquired assets across multiple continents, including office towers, shopping malls, toll roads, ports, power plants, and timberlands. Forbes described Flatt as a "billionaire toll collector of the 21st century," noting that Brookfield's strategy centered on owning essential physical assets that generated steady cash flows.

A 2010 New York Times profile noted that Brookfield, under Flatt's leadership, had become one of the largest property owners in the world, with assets spanning Australia, Brazil, India, and Europe in addition to its extensive North American holdings. The Globe and Mail named Flatt its CEO of the Year in 2017, highlighting the collective effort of Flatt and his senior leadership team — sometimes referred to as "the Brookfield Four" — in building what the newspaper called "Canada's most successful international player."

Oaktree Capital Acquisition

One of the most significant transactions during Flatt's tenure was Brookfield's acquisition of a majority stake in Oaktree Capital Management in 2019. Oaktree, co-founded by the prominent investor Howard Marks, was one of the largest distressed debt and credit investors in the world. The deal, valued at approximately $4.7 billion, gave Brookfield a major presence in the credit markets, complementing its existing strengths in real assets.

The Oaktree acquisition was notable for pairing two firms with complementary investment styles — Brookfield's focus on real assets and equity, and Oaktree's expertise in credit and distressed investing. It also underscored Flatt's ambition to build Brookfield into a comprehensive alternative asset management platform capable of competing with the largest firms on Wall Street.

Growth Toward One Trillion Dollars

By the mid-2020s, Brookfield's assets under management had grown to exceed one trillion dollars, a milestone that placed it among the largest alternative asset managers globally alongside firms such as Blackstone, Apollo Global Management, and KKR. Flatt articulated the firm's strategy in numerous public appearances, emphasizing themes such as the global transition to renewable energy, the growth of data infrastructure driven by artificial intelligence, and the long-term demand for real assets in a period of inflation.

In September 2025, Flatt publicly expressed optimism about the New York real estate market, citing a lack of new construction and looming interest rate cuts as factors that would support rising rents and property values. He also discussed Brookfield's significant investments in AI infrastructure and nuclear power in public interviews, framing these sectors as central to the firm's forward-looking strategy.

In Brookfield's 2026 investment outlook, published in December 2025, Flatt wrote about the key trends and opportunities shaping private markets, underscoring the firm's position in areas such as decarbonization, digitization, and deglobalization.

Succession and Transition (2026)

In February 2026, Brookfield announced a leadership transition at its flagship asset management arm, Brookfield Asset Management. Connor Teskey, then 38 years old, was named as the new CEO of that unit, succeeding Flatt. Flatt remained as chairman of Brookfield Asset Management and continued to serve as CEO of the parent company, Brookfield Corporation. The transition was described in media reports as a carefully planned succession, reflecting Brookfield's long-standing approach to developing leadership internally.

In interviews at the time of the announcement, Flatt discussed his future role at the company, noting that he would continue to be actively involved in the firm's strategic direction while allowing a new generation of leadership to manage day-to-day operations of the asset management business.

Investment Philosophy

Throughout his career, Flatt has articulated a consistent set of investment principles. His approach has centered on acquiring high-quality, tangible assets at prices below their intrinsic or replacement value, typically during periods of market dislocation or distress. He has emphasized downside protection — ensuring that investments have limited risk of permanent capital loss — while seeking to generate returns through operational improvements and long-term compounding.

The Financial Times and other publications have drawn comparisons between Flatt's investment approach and that of Warren Buffett, noting similarities in their emphasis on value investing, long holding periods, and the use of permanent capital structures. Flatt has also spoken about the importance of operational expertise, arguing that Brookfield's ability to manage complex physical assets — from hydroelectric dams to commercial office towers — provides a competitive advantage over financial buyers who lack specialized knowledge.

The Globe and Mail characterized the Brookfield leadership's style as that of the "toughest SOBs in business," referencing the firm's willingness to pursue complex, sometimes contentious transactions and its reputation for rigorous negotiation.

Personal Life

Bruce Flatt is married to Lonti Ebers, a prominent art collector and philanthropist based in New York City. Ebers has been included on the ARTnews Top 200 Collectors list and is active in the contemporary art world. In 2021, The New York Times reported on the opening of Amant, an arts center in Brooklyn founded by Ebers, which provides residency programs and exhibition space for artists.

Flatt has been noted for maintaining a relatively low public profile compared to other executives of comparable stature in the financial industry. He has been described in multiple profiles as eschewing personal publicity and maintaining a frugal, understated lifestyle despite his considerable wealth. Forbes has listed Flatt as a billionaire, ranking him #622 on its global Billionaires list in 2022, with a net worth largely derived from his personal stake in Brookfield and its affiliated entities.

Flatt participated in a podcast discussion with Nicolai Tangen, CEO of Norges Bank Investment Management, in September 2025, in which he discussed topics including private markets, global investment strategy, and macroeconomic trends.

Recognition

Flatt has received several notable distinctions during his career. In 2017, The Globe and Mail, Canada's newspaper of record, named him CEO of the Year, recognizing his role in transforming Brookfield from a domestically focused conglomerate into a global asset management firm.

In 2018, the Harvard Business Review included Flatt on its annual ranking of the best-performing CEOs in the world. The ranking evaluated chief executives based on long-term financial performance, including total shareholder returns and changes in market capitalization during their tenure. Flatt's inclusion reflected the sustained growth in Brookfield's share price and assets under management over more than fifteen years of leadership.

The "Canada's Warren Buffett" moniker, applied to Flatt by multiple media outlets including Forbes and the Financial Times, reflected both his investment track record and his approach to capital allocation. While such comparisons are inherently simplistic, they served to raise Flatt's profile internationally as Brookfield grew into one of the world's largest alternative asset managers.

Forbes has consistently ranked Flatt among the wealthiest individuals in Canada and included him on its global Billionaires list.

Legacy

As of early 2026, Flatt's legacy is principally tied to the transformation of Brookfield from a mid-sized Canadian holding company into one of the largest alternative asset management firms in the world. When he assumed the CEO role in 2002, the company managed a fraction of the assets it would eventually oversee; by the time he handed the asset management CEO title to Connor Teskey in 2026, Brookfield's assets under management had surpassed one trillion dollars.

Flatt's tenure was defined by several strategic themes: the aggressive acquisition of real assets during periods of market distress, the creation of a multi-vertical structure spanning real estate, infrastructure, renewable energy, private equity, and credit, and the expansion of the firm's presence from its Canadian and American base to more than 30 countries. The 2019 acquisition of a majority stake in Oaktree Capital marked a significant step toward building a full-spectrum alternative investment platform.

His investment philosophy — emphasizing tangible assets, downside protection, long holding periods, and operational expertise — influenced a generation of investors and asset managers who sought to replicate elements of Brookfield's approach. The firm's emphasis on infrastructure related to the energy transition and digital economy positioned it as a major participant in sectors likely to shape the global economy in the coming decades.

The succession plan announced in 2026, which elevated Teskey while retaining Flatt in a senior strategic role, was consistent with Brookfield's historical pattern of cultivating internal talent and executing orderly leadership transitions.