Bruce Flatt: Difference between revisions

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| education    = [[University of Manitoba]] (BComm)
| education    = [[University of Manitoba]] (BComm)
| spouse      = Lonti Ebers
| spouse      = Lonti Ebers
| title        = CEO, [[Brookfield Corporation]]; Chairman, [[Brookfield Asset Management]]
| awards      = CEO of the Year (''The Globe and Mail'', 2017); Harvard Business Review Best-Performing CEOs (2018)
| website      = [https://www.brookfield.com/about-us/leadership/bruce-flatt brookfield.com]
}}
}}


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.<ref name="globe-ceo">{{cite news |last= |first= |date=2017 |title=CEOs of the Year: How Bruce Flatt and the Brookfield Four Built Canada's Most Successful International Player |url=https://www.theglobeandmail.com/news/ceos-of-the-year-how-bruce-flatt-and-the-brookfield-four-built-canadas-most-successful-international-player/article37036767/ |work=The Globe and Mail |access-date=2026-02-24}}</ref> 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.<ref name="forbes-profile">{{cite web |title=Bruce Flatt |url=https://www.forbes.com/profile/bruce-flatt/ |publisher=Forbes |access-date=2026-02-24}}</ref> 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.<ref name="fp-succession">{{cite news |last= |first= |date=2026-02-04 |title=Brookfield names Connor Teskey new CEO of flagship asset management arm, taking over from Bruce Flatt |url=https://financialpost.com/fp-finance/brookfield-names-connor-teskey-ceo-asset-management-arm |work=Financial Post |access-date=2026-02-24}}</ref>
James Bruce Flatt (born June 10, 1965) is a Canadian businessman and investor who served as the chief executive officer of [[Brookfield Asset Management]], one of the world's largest alternative asset managers, from 2002 until early 2026. Born in [[Winnipeg]], [[Manitoba]], Flatt joined the firm in 1990 and rose through its ranks during a period of dramatic transformation, helping to reshape what had been a Canadian-focused real estate and resource company into a globally diversified investment powerhouse with operations spanning real estate, infrastructure, renewable energy, and private equity across more than 30 countries. Under his leadership, Brookfield grew its assets under management to more than one trillion dollars, and Flatt became one of the most prominent figures in global finance.<ref name="forbes-profile">{{cite web |title=Bruce Flatt |url=https://www.forbes.com/profile/bruce-flatt/ |publisher=Forbes |access-date=2026-02-24}}</ref> Often referred to as "Canada's Warren Buffett" for his value-oriented investment philosophy, long tenure as CEO, and significant personal investment in Brookfield, Flatt has been recognized by ''[[Harvard Business Review]]'' as one of the best-performing CEOs in the world and was named CEO of the Year by ''[[The Globe and Mail]]'' in 2017.<ref name="hbr">{{cite web |title=The Best-Performing CEOs in the World, 2018 |url=https://hbr.org/2018/11/the-best-performing-ceos-in-the-world-2018 |publisher=Harvard Business Review |date=November 2018 |access-date=2026-02-24}}</ref><ref name="globe-ceo">{{cite news |title=CEOs of the Year: How Bruce Flatt and the Brookfield four built Canada's most successful international player |url=https://www.theglobeandmail.com/news/ceos-of-the-year-how-bruce-flatt-and-the-brookfield-four-built-canadas-most-successful-international-player/article37036767/ |work=The Globe and Mail |date=2017 |access-date=2026-02-24}}</ref> In February 2026, Flatt handed the CEO role at Brookfield Asset Management to Connor Teskey while remaining as chairman and CEO of the parent company, Brookfield Corporation.<ref name="fp-succession">{{cite news |title=Brookfield names Connor Teskey new CEO of flagship asset management arm, taking over from Bruce Flatt |url=https://financialpost.com/fp-finance/brookfield-names-connor-teskey-ceo-asset-management-arm |work=Financial Post |date=2026-02-04 |access-date=2026-02-24}}</ref>


== Early Life ==
== Early Life ==


Bruce Flatt was born on June 10, 1965, in [[Winnipeg]], [[Manitoba]], Canada.<ref name="forbes-profile" /> He grew up in Manitoba and attended the [[University of Manitoba]], where he earned a [[Bachelor of Commerce]] degree.<ref name="brookfield-bio">{{cite web |title=Bruce Flatt – Leadership |url=https://www.brookfield.com/about-us/leadership/bruce-flatt |publisher=Brookfield Asset Management |access-date=2026-02-24}}</ref> 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.<ref name="globe-ceo" />
Bruce Flatt was born on June 10, 1965, in [[Winnipeg]], [[Manitoba]], Canada.<ref name="forbes-profile" /> He grew up in the Canadian prairies, a background that observers have noted contributed to a practical, unassuming disposition that would later contrast with the scale and global reach of the enterprise he came to lead. Details regarding his parents and family background during his childhood years are not extensively documented in public sources.


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.<ref name="globe-ceo" />
Flatt has been described by colleagues and journalists as notably understated and private for an executive of his stature. ''Forbes'' characterized him as a billionaire who avoids the public spotlight common among business leaders of comparable wealth, and profiles in ''[[The Globe and Mail]]'' and ''[[Financial Times]]'' have similarly noted his preference for letting Brookfield's results speak rather than cultivating a personal brand.<ref name="ft-profile">{{cite news |title=Bruce Flatt profile |url=https://www.ft.com/content/d6f9b346-9bbc-320c-b5c5-7b9b4f854c91 |work=Financial Times |access-date=2026-02-24}}</ref><ref name="globe-tough">{{cite news |title=The Toughest SOBs in Business |url=https://www.theglobeandmail.com/report-on-business/rob-magazine/the-toughest-sobs-in-business/article1010274/ |work=The Globe and Mail |access-date=2026-02-24}}</ref>
 
His formative years in Winnipeg placed him far from the financial centers of [[Toronto]], [[New York City|New York]], and [[London]] where he would later spend much of his career. The city's relatively modest economic scale relative to those global capitals did not limit Flatt's ambitions; rather, profiles of Flatt have suggested that his prairie origins instilled a value-conscious approach to business and investing that became a defining characteristic of his leadership at Brookfield.<ref name="forbes-billionaire">{{cite web |last=Gara |first=Antoine |title=Brookfield's Bruce Flatt: Billionaire Toll Collector Of The 21st Century |url=https://www.forbes.com/sites/antoinegara/2017/05/02/brookfields-bruce-flatt-billionaire-toll-collector-of-the-21st-century/ |publisher=Forbes |date=2017-05-02 |access-date=2026-02-24}}</ref>


== Education ==
== Education ==


Flatt attended the [[University of Manitoba]] in Winnipeg, where he completed a [[Bachelor of Commerce]] (BComm) degree.<ref name="brookfield-bio" /> 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.<ref name="globe-ceo" />
Flatt attended the [[University of Manitoba]], where he earned a [[Bachelor of Commerce]] (BComm) degree.<ref name="brookfield-bio">{{cite web |title=Bruce Flatt – Leadership |url=https://www.brookfield.com/about-us/leadership/bruce-flatt |publisher=Brookfield Asset Management |access-date=2026-02-24}}</ref> The University of Manitoba, located in Winnipeg, provided Flatt with a foundation in business and finance that he would apply when he entered the investment industry shortly after graduation. He joined Brookfield (then known as Brascan or Brookfield Asset Management under earlier corporate structures) in 1990, beginning his career at the company at the age of 25.<ref name="nyt-2010">{{cite news |title=Brookfield article |url=https://www.nytimes.com/2010/12/19/business/19brook.html |work=The New York Times |date=2010-12-19 |access-date=2026-02-24}}</ref>


== Career ==
== Career ==


=== Early Career at Brascan (1990–2002) ===
=== Early Career at Brookfield (1990–2002) ===


Flatt joined Brascan Corporation in 1990.<ref name="globe-ceo" /> 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 joined Brookfield in 1990 and quickly advanced within the organization. During the 1990s, the firm—then operating under the name Brascan—was primarily a Canadian-focused conglomerate with interests in real estate, natural resources, and financial services. Flatt's early years at the company coincided with a period of significant restructuring in the Canadian corporate landscape, and he played an increasingly prominent role in the firm's real estate operations and strategic direction.<ref name="nyt-2010" />


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.<ref name="nyt-2010">{{cite news |last= |first= |date=2010-12-19 |title=A Canadian Colossus Gathers Global Assets |url=https://www.nytimes.com/2010/12/19/business/19brook.html |work=The New York Times |access-date=2026-02-24}}</ref>
His work in the firm's real estate division during this period helped lay the groundwork for the investment philosophy that would later define Brookfield's approach: acquiring high-quality, real assets at attractive valuations, often during periods of market distress, and operating them to generate stable, long-term cash flows. ''The Globe and Mail'' noted that Flatt and a small group of senior partners—collectively referred to as "the Brookfield four"—were instrumental in building the strategic framework that would transform the company from a Canadian conglomerate into a global alternative asset manager.<ref name="globe-ceo" />


=== September 11 and World Financial Center ===
=== CEO of Brookfield Asset Management (2002–2026) ===
 
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 (New York City)|Brookfield Place]]) in Lower Manhattan, located adjacent to the [[World Trade Center]]. The complex suffered significant damage when the Twin Towers collapsed.<ref name="nyt-911">{{cite news |last= |first= |date=2001-09-23 |title=Private Sector; A Landlord at Disaster's Margin |url=https://www.nytimes.com/2001/09/23/business/private-sector-a-landlord-at-disaster-s-margin.html |work=The New York Times |access-date=2026-02-24}}</ref>


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.<ref name="nyt-911" />
Flatt was appointed CEO of Brookfield Asset Management in 2002, taking the helm at a challenging time for financial markets following the bursting of the [[dot-com bubble]] and the aftermath of the [[September 11 attacks]]. Brookfield had direct exposure to the World Trade Center site; the firm was a significant commercial landlord in [[Lower Manhattan]], and the attacks in September 2001 placed the company at the center of one of the most consequential events in modern American urban history. ''[[The New York Times]]'' profiled the company's role as "a landlord at disaster's margin," highlighting the challenges and responsibilities that came with managing major properties adjacent to [[Ground Zero]].<ref name="nyt-911">{{cite news |title=Private Sector; A Landlord at Disaster's Margin |url=https://www.nytimes.com/2001/09/23/business/private-sector-a-landlord-at-disaster-s-margin.html |work=The New York Times |date=2001-09-23 |access-date=2026-02-24}}</ref>


=== CEO of Brookfield Asset Management (2002–2026) ===
Under Flatt's leadership, Brookfield undertook a fundamental transformation. The company shifted from its historical identity as a Canadian holding company to become one of the largest alternative asset managers in the world. This transformation involved several key strategic moves:


Flatt was appointed CEO in 2002, at the age of 37.<ref name="globe-ceo" /> 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.
'''Global Expansion:''' Flatt oversaw Brookfield's expansion into markets across [[South America]], [[Europe]], [[Asia]], [[Australia]], and the [[Middle East]]. By the mid-2020s, the firm operated in more than 30 countries, managing assets across real estate, infrastructure, renewable power, private equity, and credit. ''Forbes'' described Flatt as a "billionaire toll collector of the 21st century," referencing Brookfield's strategy of owning essential physical infrastructure—ports, pipelines, toll roads, data centers, power generation facilities—that produces recurring revenue streams.<ref name="forbes-billionaire" />


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.<ref name="nyt-2010" />
'''Value-Oriented Investing:''' Flatt's investment philosophy centered on acquiring real assets at discounts to their intrinsic or replacement value, particularly during periods of economic distress or market dislocation. This approach drew frequent comparisons to [[Warren Buffett]]'s investment style, earning Flatt the informal moniker "Canada's Warren Buffett."<ref name="forbes-profile" /> Like Buffett, Flatt maintained a significant personal financial stake in the company he managed, aligning his interests with those of shareholders and investors.


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.<ref name="forbes-toll">{{cite news |last=Gara |first=Antoine |date=2017-05-02 |title=Brookfield's Bruce Flatt: Billionaire Toll Collector Of The 21st Century |url=https://www.forbes.com/sites/antoinegara/2017/05/02/brookfields-bruce-flatt-billionaire-toll-collector-of-the-21st-century/ |work=Forbes |access-date=2026-02-24}}</ref>
'''Asset Management Growth:''' A central element of Brookfield's transformation under Flatt was the development of a large-scale third-party asset management business. Rather than deploying only its own capital, Brookfield raised funds from institutional investors—pension funds, sovereign wealth funds, endowments, and insurance companies—to invest alongside it. This fee-generating model allowed Brookfield to grow its influence and returns while diversifying its revenue base. The firm's assets under management grew from tens of billions of dollars when Flatt became CEO to more than one trillion dollars by the mid-2020s.<ref name="farnam">{{cite web |title=Bruce Flatt: The Trillion-Dollar Blueprint (Value, Discipline, Durability) |url=https://fs.blog/knowledge-project-podcast/bruce-flatt/ |publisher=Farnam Street |date=2025-03-27 |access-date=2026-02-24}}</ref>


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.<ref name="nyt-2010" /> 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."<ref name="globe-ceo" />
'''Oaktree Capital Acquisition:''' In 2019, Brookfield acquired a majority stake in [[Oaktree Capital Management]], the large credit-focused investment firm co-founded by [[Howard Marks (investor)|Howard Marks]]. The deal, reported by [[Bloomberg News]], expanded Brookfield's capabilities in credit and distressed debt investing and added further scale to its asset management platform.<ref name="bloomberg-oaktree">{{cite news |title=Brookfield's Bruce Flatt Bought a Majority Stake in Oaktree |url=https://www.bloomberg.com/news/articles/2019-12-04/brookfield-s-bruce-flatt-bought-a-majority-stake-in-oaktree |work=Bloomberg News |date=2019-12-04 |access-date=2026-02-24}}</ref>


=== Oaktree Capital Acquisition ===
'''Corporate Restructuring:''' In the early 2020s, Brookfield underwent a corporate restructuring that separated the asset management business from the parent corporation. Brookfield Asset Management was listed as a standalone, publicly traded company focused on fee-related earnings from managing capital for institutional clients, while Brookfield Corporation retained the firm's invested capital and operating businesses. This separation was designed to provide investors with greater clarity regarding the company's distinct business lines and to unlock value in the asset management franchise.


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 (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.<ref name="bloomberg-oaktree">{{cite news |last= |first= |date=2019-12-04 |title=Brookfield's Bruce Flatt Bought a Majority Stake in Oaktree |url=https://www.bloomberg.com/news/articles/2019-12-04/brookfield-s-bruce-flatt-bought-a-majority-stake-in-oaktree |work=Bloomberg |access-date=2026-02-24}}</ref>
=== Real Estate and Infrastructure Focus ===


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.<ref name="bloomberg-oaktree" />
Brookfield's real estate portfolio under Flatt grew to become one of the largest in the world. The firm owned and operated iconic properties across major global cities, with a particularly significant presence in New York City. In 2025, Flatt expressed optimism about a rebound in the New York real estate market, citing a lack of new construction and the prospect of declining interest rates as factors that would support rising rents and property values. "Rents are going through the roof," Flatt told investors, according to ''[[Yahoo! Finance]]'' Canada.<ref name="yahoo-realestate">{{cite news |title='Rents are going through the roof': Why Brookfield CEO Bruce Flatt is bullish on a New York real estate rebound |url=https://ca.finance.yahoo.com/news/rents-going-roof-why-brookfield-231401418.html |work=Yahoo! Finance Canada |date=2025-09-10 |access-date=2026-02-24}}</ref>


=== Growth Toward One Trillion Dollars ===
Infrastructure investments under Flatt's leadership encompassed a broad range of essential services, including utilities, transport, energy, and data infrastructure. ''Forbes'' noted that Brookfield's infrastructure portfolio functioned as a modern toll-collection enterprise, generating steady income from assets that were integral to economic activity in the countries where they operated.<ref name="forbes-billionaire" />


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 Inc.|Blackstone]], [[Apollo Global Management]], and [[KKR & Co.|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.<ref name="farnam">{{cite web |title=Bruce Flatt: The Trillion-Dollar Blueprint (Value, Discipline, Durability) [The Knowledge Project Ep. #221] |url=https://fs.blog/knowledge-project-podcast/bruce-flatt/ |publisher=Farnam Street |date=2025-03-27 |access-date=2026-02-24}}</ref>
=== AI Infrastructure and Energy ===


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.<ref name="yahoo-realestate">{{cite news |last= |first= |date=2025-09-10 |title='Rents are going through the roof': Why Brookfield CEO Bruce Flatt is bullish on a New York real estate rebound |url=https://ca.finance.yahoo.com/news/rents-going-roof-why-brookfield-231401418.html |work=Yahoo! Finance Canada |access-date=2026-02-24}}</ref> 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.<ref name="bloomberg-succession-video">{{cite news |last= |first= |date=2026-02-04 |title=Watch Brookfield's Bruce Flatt on Succession Plan, AI and Strategy |url=https://www.bloomberg.com/news/videos/2026-02-04/brookfield-s-bruce-flatt-on-succession-ai-and-strategy-video |work=Bloomberg |access-date=2026-02-24}}</ref>
In the mid-2020s, Flatt positioned Brookfield as a major player in the infrastructure required to support [[artificial intelligence]] and data-intensive computing. In a February 2026 interview with [[Bloomberg News]], Flatt discussed his strategy around AI infrastructure and [[nuclear power]], areas he identified as central to the firm's future growth. The rapid expansion of data centers to support AI workloads created significant demand for reliable power generation, and Brookfield moved to invest in both the physical infrastructure and the energy supply chains needed to support this trend.<ref name="bloomberg-ai">{{cite news |title=Watch Brookfield's Bruce Flatt on Succession Plan, AI and Strategy |url=https://www.bloomberg.com/news/videos/2026-02-04/brookfield-s-bruce-flatt-on-succession-ai-and-strategy-video |work=Bloomberg News |date=2026-02-04 |access-date=2026-02-24}}</ref>


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.<ref name="brookfield-outlook">{{cite web |title=2026 Investment Outlook |url=https://www.brookfield.com/2026-investment-outlook |publisher=Brookfield |date=2025-12-16 |access-date=2026-02-24}}</ref>
Brookfield's 2026 Investment Outlook, published over Flatt's name as CEO, identified trends and opportunities in private markets including the energy transition, infrastructure buildout, and the convergence of technology and real assets as defining themes for the coming years.<ref name="brookfield-outlook">{{cite web |title=2026 Investment Outlook |url=https://www.brookfield.com/2026-investment-outlook |publisher=Brookfield |date=2025-12-16 |access-date=2026-02-24}}</ref>


=== Succession and Transition (2026) ===
=== 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.<ref name="fp-succession" /> The transition was described in media reports as a carefully planned succession, reflecting Brookfield's long-standing approach to developing leadership internally.<ref name="bloomberg-succession">{{cite news |last= |first= |date=2026-02-04 |title=Bruce Flatt Passes the Torch to Teskey at Brookfield Asset Management |url=https://www.bloomberg.com/news/newsletters/2026-02-04/bruce-flatt-hands-off-to-connor-teskey-at-brookfield-asset-management |work=Bloomberg |access-date=2026-02-24}}</ref>
In February 2026, Brookfield announced that Connor Teskey, aged 38, would succeed Flatt as CEO of Brookfield Asset Management. Flatt remained as chairman of Brookfield Asset Management and as CEO of the parent company, Brookfield Corporation, maintaining a central role in the firm's strategic direction while delegating day-to-day management of the asset management business to the next generation of leadership.<ref name="fp-succession" /><ref name="bloomberg-succession">{{cite news |title=Bruce Flatt Passes the Torch to Teskey at Brookfield Asset Management |url=https://www.bloomberg.com/news/newsletters/2026-02-04/bruce-flatt-hands-off-to-connor-teskey-at-brookfield-asset-management |work=Bloomberg News |date=2026-02-04 |access-date=2026-02-24}}</ref>


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.<ref name="bloomberg-talks">{{cite news |last= |first= |date=2026-02-04 |title=Bloomberg Talks: Bruce Flatt |url=https://www.bloomberg.com/news/audio/2026-02-04/bloomberg-talks-bruce-flatt-podcast |work=Bloomberg |access-date=2026-02-24}}</ref>
The succession plan reflected Flatt's stated belief in long-term institutional continuity. In a Bloomberg interview, he discussed the transition and his evolving role, indicating that the move had been planned well in advance and was designed to ensure a smooth handoff while preserving the firm's culture and strategic orientation.<ref name="bloomberg-ai" /><ref name="bloomberg-talks">{{cite news |title=Bloomberg Talks: Bruce Flatt |url=https://www.bloomberg.com/news/audio/2026-02-04/bloomberg-talks-bruce-flatt-podcast |work=Bloomberg News |date=2026-02-04 |access-date=2026-02-24}}</ref>


=== Investment Philosophy ===
=== 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.<ref name="farnam" />
Flatt's investment approach, as articulated in interviews and public letters to shareholders, has centered on several core principles: acquiring high-quality real assets at discounts to replacement cost; focusing on downside protection; maintaining long time horizons; and operating assets directly rather than relying solely on financial engineering. In a 2025 appearance on the ''Knowledge Project'' podcast, Flatt described how Brookfield built what the host characterized as "a trillion-dollar empire" by combining value discipline with operational capabilities in real assets.<ref name="farnam" />


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.<ref name="ft-profile">{{cite news |last= |first= |date= |title=Bruce Flatt Profile |url=https://www.ft.com/content/d6f9b346-9bbc-320c-b5c5-7b9b4f854c91 |work=Financial Times |access-date=2026-02-24}}</ref> 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.<ref name="globe-ceo" />
In a September 2025 podcast appearance on the Norwegian sovereign wealth fund's ''In Good Company'' program, Flatt discussed Brookfield's approach to private markets, investment strategy, and the global megatrends—including decarbonization, deglobalization, and digitalization—that he believed would shape investment opportunities in the coming decades.<ref name="brookfield-podcast">{{cite web |title=Brookfield CEO Bruce Flatt on the "In Good Company" Podcast |url=https://www.brookfield.com/views-news/perspectives-podcast/brookfield-ceo-bruce-flatt-good-company-podcast |publisher=Brookfield |date=2025-09-04 |access-date=2026-02-24}}</ref>
 
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.<ref name="globe-tough">{{cite news |last= |first= |date= |title=The Toughest SOBs in Business |url=https://www.theglobeandmail.com/report-on-business/rob-magazine/the-toughest-sobs-in-business/article1010274/ |work=The Globe and Mail |access-date=2026-02-24}}</ref>


== Personal Life ==
== Personal Life ==


Bruce Flatt is married to Lonti Ebers, a prominent art collector and philanthropist based in New York City.<ref name="artnews-ebers">{{cite web |title=Lonti Ebers – Top 200 Collectors |url=https://www.artnews.com/art-collectors/top-200-profiles/lonti-ebers/ |publisher=ARTnews |access-date=2026-02-24}}</ref> 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.<ref name="nyt-amant">{{cite news |last= |first= |date=2021-05-04 |title=Amant Museum Brooklyn Lonti Ebers |url=https://www.nytimes.com/2021/05/04/arts/amant-museum-brooklyn-lonti-ebers.html |work=The New York Times |access-date=2026-02-24}}</ref>
Flatt is married to Lonti Ebers, an art collector and cultural philanthropist. Ebers has been recognized by ''ARTnews'' as one of the top 200 art collectors in the world, and she has been involved in arts and cultural organizations for many years.<ref name="artnews-ebers">{{cite web |title=Lonti Ebers – Top 200 Collectors |url=https://www.artnews.com/art-collectors/top-200-profiles/lonti-ebers/ |publisher=ARTnews |access-date=2026-02-24}}</ref> In 2021, ''The New York Times'' reported on the opening of Amant, a contemporary art center in [[Brooklyn]], New York, a project with which Ebers was associated.<ref name="nyt-amant">{{cite news |title=Amant museum Brooklyn Lonti Ebers |url=https://www.nytimes.com/2021/05/04/arts/amant-museum-brooklyn-lonti-ebers.html |work=The New York Times |date=2021-05-04 |access-date=2026-02-24}}</ref>


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.<ref name="globe-ceo" /> 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.<ref name="forbes-profile" />
Flatt has maintained a relatively low public profile for a billionaire of his stature. He has been noted for avoiding ostentatious displays of wealth and for a preference for privacy in his personal affairs. ''Forbes'' listed Flatt on its billionaires list, ranking him #622 globally in 2022.<ref name="forbes-profile" />


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.<ref name="brookfield-podcast">{{cite web |title=Brookfield CEO Bruce Flatt on the "In Good Company" Podcast |url=https://www.brookfield.com/views-news/perspectives-podcast/brookfield-ceo-bruce-flatt-good-company-podcast |publisher=Brookfield |date=2025-09-04 |access-date=2026-02-24}}</ref>
== Recognition ==


== Recognition ==
Flatt has received significant recognition within the business and financial communities for his leadership and investment track record:
 
* In 2017, ''The Globe and Mail'' named Flatt its CEO of the Year, profiling him alongside his senior leadership team—referred to as "the Brookfield four"—and documenting how they built what the newspaper described as "Canada's most successful international player."<ref name="globe-ceo" />


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.<ref name="globe-ceo" />
* In 2018, ''Harvard Business Review'' included Flatt in its ranking of the best-performing CEOs in the world, an assessment based on long-term financial performance measures including total shareholder return and market capitalization growth during each executive's tenure.<ref name="hbr" />


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.<ref name="hbr-ceo">{{cite news |last= |first= |date=2018-11 |title=The Best-Performing CEOs in the World, 2018 |url=https://hbr.org/2018/11/the-best-performing-ceos-in-the-world-2018 |work=Harvard Business Review |access-date=2026-02-24}}</ref>
* ''Forbes'' has consistently included Flatt on its lists of the world's billionaires and has profiled him as one of the most significant figures in the global alternative investment industry.<ref name="forbes-profile" /><ref name="forbes-billionaire" />


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.<ref name="ft-profile" /><ref name="forbes-toll" /> 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.
* ''The Financial Times'' has profiled Flatt as a leading figure in the growth of alternative asset management, and ''The Globe and Mail'' separately recognized him in a profile titled "The Toughest SOBs in Business," reflecting his reputation for tenacity and discipline in deal-making.<ref name="ft-profile" /><ref name="globe-tough" />


Forbes has consistently ranked Flatt among the wealthiest individuals in Canada and included him on its global Billionaires list.<ref name="forbes-profile" />
The comparisons to Warren Buffett, while informal, have been repeated across multiple major publications and reflect both Flatt's investment style—patient, value-oriented, concentrated in real assets—and his practice of maintaining a substantial personal stake in the company he manages.<ref name="forbes-profile" />


== Legacy ==
== 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.<ref name="fp-succession" /><ref name="farnam" />
Flatt's tenure at Brookfield is defined by the transformation of a mid-sized Canadian conglomerate into one of the world's largest and most diversified alternative asset managers. When he joined the firm in 1990, it was a domestically focused holding company; by the time he handed the CEO role of the asset management arm to Connor Teskey in 2026, Brookfield managed more than one trillion dollars in assets across multiple continents and asset classes.<ref name="farnam" /><ref name="fp-succession" />


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.<ref name="nyt-2010" /><ref name="globe-ceo" /> The 2019 acquisition of a majority stake in Oaktree Capital marked a significant step toward building a full-spectrum alternative investment platform.<ref name="bloomberg-oaktree" />
The firm's growth under Flatt reflected broader trends in global capital markets, including the rise of alternative investments as an asset class, the increasing allocation of institutional capital to private markets, and the growing importance of infrastructure and real assets in portfolio construction. Flatt both benefited from and helped accelerate these trends, positioning Brookfield at the center of several of the most significant capital flows of the early 21st century.


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.<ref name="farnam" /> 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.<ref name="brookfield-outlook" />
His investment philosophy—centered on acquiring real assets at discounts, focusing on downside protection, and maintaining long time horizons—has been studied and discussed in business schools, investment conferences, and financial media. The ''Knowledge Project'' podcast described Brookfield's trajectory under Flatt as a "trillion-dollar blueprint" built on "value, discipline, durability."<ref name="farnam" />


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.<ref name="fp-succession" /><ref name="bloomberg-succession" />
Flatt's approach to corporate structure—separating the asset management fee business from the operating and investing company—became a model studied by other large alternative asset managers considering similar separations. The February 2026 succession, in which Flatt stepped back from the asset management CEO role while retaining leadership of the parent corporation, was structured to preserve institutional continuity and to ensure that the culture and strategic approach he had built would persist under new leadership.<ref name="fp-succession" /><ref name="bloomberg-succession" />
 
Within Canada, Flatt is considered one of the country's most significant business figures of his generation. His ability to build a globally competitive institution from a Canadian base, during a period when many Canadian companies struggled to compete internationally, has been cited as a distinguishing achievement.<ref name="globe-ceo" />


== References ==
== References ==
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Latest revision as of 05:27, 24 February 2026


Bruce Flatt
BornJames Bruce Flatt
10 6, 1965
BirthplaceWinnipeg, Manitoba, Canada
NationalityCanadian
OccupationBusiness executive, investor
Known forCEO of Brookfield Asset Management
EducationUniversity of Manitoba (BComm)
Spouse(s)Lonti Ebers
AwardsCEO of the Year (The Globe and Mail, 2017); Harvard Business Review Best-Performing CEOs (2018)
Website[brookfield.com Official site]

James Bruce Flatt (born June 10, 1965) is a Canadian businessman and investor who served as the chief executive officer of Brookfield Asset Management, one of the world's largest alternative asset managers, from 2002 until early 2026. Born in Winnipeg, Manitoba, Flatt joined the firm in 1990 and rose through its ranks during a period of dramatic transformation, helping to reshape what had been a Canadian-focused real estate and resource company into a globally diversified investment powerhouse with operations spanning real estate, infrastructure, renewable energy, and private equity across more than 30 countries. Under his leadership, Brookfield grew its assets under management to more than one trillion dollars, and Flatt became one of the most prominent figures in global finance.[1] Often referred to as "Canada's Warren Buffett" for his value-oriented investment philosophy, long tenure as CEO, and significant personal investment in Brookfield, Flatt has been recognized by Harvard Business Review as one of the best-performing CEOs in the world and was named CEO of the Year by The Globe and Mail in 2017.[2][3] In February 2026, Flatt handed the CEO role at Brookfield Asset Management to Connor Teskey while remaining as chairman and CEO of the parent company, Brookfield Corporation.[4]

Early Life

Bruce Flatt was born on June 10, 1965, in Winnipeg, Manitoba, Canada.[1] He grew up in the Canadian prairies, a background that observers have noted contributed to a practical, unassuming disposition that would later contrast with the scale and global reach of the enterprise he came to lead. Details regarding his parents and family background during his childhood years are not extensively documented in public sources.

Flatt has been described by colleagues and journalists as notably understated and private for an executive of his stature. Forbes characterized him as a billionaire who avoids the public spotlight common among business leaders of comparable wealth, and profiles in The Globe and Mail and Financial Times have similarly noted his preference for letting Brookfield's results speak rather than cultivating a personal brand.[5][6]

His formative years in Winnipeg placed him far from the financial centers of Toronto, New York, and London where he would later spend much of his career. The city's relatively modest economic scale relative to those global capitals did not limit Flatt's ambitions; rather, profiles of Flatt have suggested that his prairie origins instilled a value-conscious approach to business and investing that became a defining characteristic of his leadership at Brookfield.[7]

Education

Flatt attended the University of Manitoba, where he earned a Bachelor of Commerce (BComm) degree.[8] The University of Manitoba, located in Winnipeg, provided Flatt with a foundation in business and finance that he would apply when he entered the investment industry shortly after graduation. He joined Brookfield (then known as Brascan or Brookfield Asset Management under earlier corporate structures) in 1990, beginning his career at the company at the age of 25.[9]

Career

Early Career at Brookfield (1990–2002)

Flatt joined Brookfield in 1990 and quickly advanced within the organization. During the 1990s, the firm—then operating under the name Brascan—was primarily a Canadian-focused conglomerate with interests in real estate, natural resources, and financial services. Flatt's early years at the company coincided with a period of significant restructuring in the Canadian corporate landscape, and he played an increasingly prominent role in the firm's real estate operations and strategic direction.[9]

His work in the firm's real estate division during this period helped lay the groundwork for the investment philosophy that would later define Brookfield's approach: acquiring high-quality, real assets at attractive valuations, often during periods of market distress, and operating them to generate stable, long-term cash flows. The Globe and Mail noted that Flatt and a small group of senior partners—collectively referred to as "the Brookfield four"—were instrumental in building the strategic framework that would transform the company from a Canadian conglomerate into a global alternative asset manager.[3]

CEO of Brookfield Asset Management (2002–2026)

Flatt was appointed CEO of Brookfield Asset Management in 2002, taking the helm at a challenging time for financial markets following the bursting of the dot-com bubble and the aftermath of the September 11 attacks. Brookfield had direct exposure to the World Trade Center site; the firm was a significant commercial landlord in Lower Manhattan, and the attacks in September 2001 placed the company at the center of one of the most consequential events in modern American urban history. The New York Times profiled the company's role as "a landlord at disaster's margin," highlighting the challenges and responsibilities that came with managing major properties adjacent to Ground Zero.[10]

Under Flatt's leadership, Brookfield undertook a fundamental transformation. The company shifted from its historical identity as a Canadian holding company to become one of the largest alternative asset managers in the world. This transformation involved several key strategic moves:

Global Expansion: Flatt oversaw Brookfield's expansion into markets across South America, Europe, Asia, Australia, and the Middle East. By the mid-2020s, the firm operated in more than 30 countries, managing assets across real estate, infrastructure, renewable power, private equity, and credit. Forbes described Flatt as a "billionaire toll collector of the 21st century," referencing Brookfield's strategy of owning essential physical infrastructure—ports, pipelines, toll roads, data centers, power generation facilities—that produces recurring revenue streams.[7]

Value-Oriented Investing: Flatt's investment philosophy centered on acquiring real assets at discounts to their intrinsic or replacement value, particularly during periods of economic distress or market dislocation. This approach drew frequent comparisons to Warren Buffett's investment style, earning Flatt the informal moniker "Canada's Warren Buffett."[1] Like Buffett, Flatt maintained a significant personal financial stake in the company he managed, aligning his interests with those of shareholders and investors.

Asset Management Growth: A central element of Brookfield's transformation under Flatt was the development of a large-scale third-party asset management business. Rather than deploying only its own capital, Brookfield raised funds from institutional investors—pension funds, sovereign wealth funds, endowments, and insurance companies—to invest alongside it. This fee-generating model allowed Brookfield to grow its influence and returns while diversifying its revenue base. The firm's assets under management grew from tens of billions of dollars when Flatt became CEO to more than one trillion dollars by the mid-2020s.[11]

Oaktree Capital Acquisition: In 2019, Brookfield acquired a majority stake in Oaktree Capital Management, the large credit-focused investment firm co-founded by Howard Marks. The deal, reported by Bloomberg News, expanded Brookfield's capabilities in credit and distressed debt investing and added further scale to its asset management platform.[12]

Corporate Restructuring: In the early 2020s, Brookfield underwent a corporate restructuring that separated the asset management business from the parent corporation. Brookfield Asset Management was listed as a standalone, publicly traded company focused on fee-related earnings from managing capital for institutional clients, while Brookfield Corporation retained the firm's invested capital and operating businesses. This separation was designed to provide investors with greater clarity regarding the company's distinct business lines and to unlock value in the asset management franchise.

Real Estate and Infrastructure Focus

Brookfield's real estate portfolio under Flatt grew to become one of the largest in the world. The firm owned and operated iconic properties across major global cities, with a particularly significant presence in New York City. In 2025, Flatt expressed optimism about a rebound in the New York real estate market, citing a lack of new construction and the prospect of declining interest rates as factors that would support rising rents and property values. "Rents are going through the roof," Flatt told investors, according to Yahoo! Finance Canada.[13]

Infrastructure investments under Flatt's leadership encompassed a broad range of essential services, including utilities, transport, energy, and data infrastructure. Forbes noted that Brookfield's infrastructure portfolio functioned as a modern toll-collection enterprise, generating steady income from assets that were integral to economic activity in the countries where they operated.[7]

AI Infrastructure and Energy

In the mid-2020s, Flatt positioned Brookfield as a major player in the infrastructure required to support artificial intelligence and data-intensive computing. In a February 2026 interview with Bloomberg News, Flatt discussed his strategy around AI infrastructure and nuclear power, areas he identified as central to the firm's future growth. The rapid expansion of data centers to support AI workloads created significant demand for reliable power generation, and Brookfield moved to invest in both the physical infrastructure and the energy supply chains needed to support this trend.[14]

Brookfield's 2026 Investment Outlook, published over Flatt's name as CEO, identified trends and opportunities in private markets including the energy transition, infrastructure buildout, and the convergence of technology and real assets as defining themes for the coming years.[15]

Succession and Transition (2026)

In February 2026, Brookfield announced that Connor Teskey, aged 38, would succeed Flatt as CEO of Brookfield Asset Management. Flatt remained as chairman of Brookfield Asset Management and as CEO of the parent company, Brookfield Corporation, maintaining a central role in the firm's strategic direction while delegating day-to-day management of the asset management business to the next generation of leadership.[4][16]

The succession plan reflected Flatt's stated belief in long-term institutional continuity. In a Bloomberg interview, he discussed the transition and his evolving role, indicating that the move had been planned well in advance and was designed to ensure a smooth handoff while preserving the firm's culture and strategic orientation.[14][17]

Investment Philosophy

Flatt's investment approach, as articulated in interviews and public letters to shareholders, has centered on several core principles: acquiring high-quality real assets at discounts to replacement cost; focusing on downside protection; maintaining long time horizons; and operating assets directly rather than relying solely on financial engineering. In a 2025 appearance on the Knowledge Project podcast, Flatt described how Brookfield built what the host characterized as "a trillion-dollar empire" by combining value discipline with operational capabilities in real assets.[11]

In a September 2025 podcast appearance on the Norwegian sovereign wealth fund's In Good Company program, Flatt discussed Brookfield's approach to private markets, investment strategy, and the global megatrends—including decarbonization, deglobalization, and digitalization—that he believed would shape investment opportunities in the coming decades.[18]

Personal Life

Flatt is married to Lonti Ebers, an art collector and cultural philanthropist. Ebers has been recognized by ARTnews as one of the top 200 art collectors in the world, and she has been involved in arts and cultural organizations for many years.[19] In 2021, The New York Times reported on the opening of Amant, a contemporary art center in Brooklyn, New York, a project with which Ebers was associated.[20]

Flatt has maintained a relatively low public profile for a billionaire of his stature. He has been noted for avoiding ostentatious displays of wealth and for a preference for privacy in his personal affairs. Forbes listed Flatt on its billionaires list, ranking him #622 globally in 2022.[1]

Recognition

Flatt has received significant recognition within the business and financial communities for his leadership and investment track record:

  • In 2017, The Globe and Mail named Flatt its CEO of the Year, profiling him alongside his senior leadership team—referred to as "the Brookfield four"—and documenting how they built what the newspaper described as "Canada's most successful international player."[3]
  • In 2018, Harvard Business Review included Flatt in its ranking of the best-performing CEOs in the world, an assessment based on long-term financial performance measures including total shareholder return and market capitalization growth during each executive's tenure.[2]
  • Forbes has consistently included Flatt on its lists of the world's billionaires and has profiled him as one of the most significant figures in the global alternative investment industry.[1][7]
  • The Financial Times has profiled Flatt as a leading figure in the growth of alternative asset management, and The Globe and Mail separately recognized him in a profile titled "The Toughest SOBs in Business," reflecting his reputation for tenacity and discipline in deal-making.[5][6]

The comparisons to Warren Buffett, while informal, have been repeated across multiple major publications and reflect both Flatt's investment style—patient, value-oriented, concentrated in real assets—and his practice of maintaining a substantial personal stake in the company he manages.[1]

Legacy

Flatt's tenure at Brookfield is defined by the transformation of a mid-sized Canadian conglomerate into one of the world's largest and most diversified alternative asset managers. When he joined the firm in 1990, it was a domestically focused holding company; by the time he handed the CEO role of the asset management arm to Connor Teskey in 2026, Brookfield managed more than one trillion dollars in assets across multiple continents and asset classes.[11][4]

The firm's growth under Flatt reflected broader trends in global capital markets, including the rise of alternative investments as an asset class, the increasing allocation of institutional capital to private markets, and the growing importance of infrastructure and real assets in portfolio construction. Flatt both benefited from and helped accelerate these trends, positioning Brookfield at the center of several of the most significant capital flows of the early 21st century.

His investment philosophy—centered on acquiring real assets at discounts, focusing on downside protection, and maintaining long time horizons—has been studied and discussed in business schools, investment conferences, and financial media. The Knowledge Project podcast described Brookfield's trajectory under Flatt as a "trillion-dollar blueprint" built on "value, discipline, durability."[11]

Flatt's approach to corporate structure—separating the asset management fee business from the operating and investing company—became a model studied by other large alternative asset managers considering similar separations. The February 2026 succession, in which Flatt stepped back from the asset management CEO role while retaining leadership of the parent corporation, was structured to preserve institutional continuity and to ensure that the culture and strategic approach he had built would persist under new leadership.[4][16]

Within Canada, Flatt is considered one of the country's most significant business figures of his generation. His ability to build a globally competitive institution from a Canadian base, during a period when many Canadian companies struggled to compete internationally, has been cited as a distinguishing achievement.[3]

References

  1. ↑ 1.0 1.1 1.2 1.3 1.4 1.5 "Bruce Flatt".Forbes.https://www.forbes.com/profile/bruce-flatt/.Retrieved 2026-02-24.
  2. ↑ 2.0 2.1 "The Best-Performing CEOs in the World, 2018".Harvard Business Review.November 2018.https://hbr.org/2018/11/the-best-performing-ceos-in-the-world-2018.Retrieved 2026-02-24.
  3. ↑ 3.0 3.1 3.2 3.3 "CEOs of the Year: How Bruce Flatt and the Brookfield four built Canada's most successful international player".The Globe and Mail.2017.https://www.theglobeandmail.com/news/ceos-of-the-year-how-bruce-flatt-and-the-brookfield-four-built-canadas-most-successful-international-player/article37036767/.Retrieved 2026-02-24.
  4. ↑ 4.0 4.1 4.2 4.3 "Brookfield names Connor Teskey new CEO of flagship asset management arm, taking over from Bruce Flatt".Financial Post.2026-02-04.https://financialpost.com/fp-finance/brookfield-names-connor-teskey-ceo-asset-management-arm.Retrieved 2026-02-24.
  5. ↑ 5.0 5.1 "Bruce Flatt profile".Financial Times.https://www.ft.com/content/d6f9b346-9bbc-320c-b5c5-7b9b4f854c91.Retrieved 2026-02-24.
  6. ↑ 6.0 6.1 "The Toughest SOBs in Business".The Globe and Mail.https://www.theglobeandmail.com/report-on-business/rob-magazine/the-toughest-sobs-in-business/article1010274/.Retrieved 2026-02-24.
  7. ↑ 7.0 7.1 7.2 7.3 GaraAntoineAntoine"Brookfield's Bruce Flatt: Billionaire Toll Collector Of The 21st Century".Forbes.2017-05-02.https://www.forbes.com/sites/antoinegara/2017/05/02/brookfields-bruce-flatt-billionaire-toll-collector-of-the-21st-century/.Retrieved 2026-02-24.
  8. ↑ "Bruce Flatt – Leadership".Brookfield Asset Management.https://www.brookfield.com/about-us/leadership/bruce-flatt.Retrieved 2026-02-24.
  9. ↑ 9.0 9.1 "Brookfield article".The New York Times.2010-12-19.https://www.nytimes.com/2010/12/19/business/19brook.html.Retrieved 2026-02-24.
  10. ↑ "Private Sector; A Landlord at Disaster's Margin".The New York Times.2001-09-23.https://www.nytimes.com/2001/09/23/business/private-sector-a-landlord-at-disaster-s-margin.html.Retrieved 2026-02-24.
  11. ↑ 11.0 11.1 11.2 11.3 "Bruce Flatt: The Trillion-Dollar Blueprint (Value, Discipline, Durability)".Farnam Street.2025-03-27.https://fs.blog/knowledge-project-podcast/bruce-flatt/.Retrieved 2026-02-24.
  12. ↑ "Brookfield's Bruce Flatt Bought a Majority Stake in Oaktree".Bloomberg News.2019-12-04.https://www.bloomberg.com/news/articles/2019-12-04/brookfield-s-bruce-flatt-bought-a-majority-stake-in-oaktree.Retrieved 2026-02-24.
  13. ↑ "'Rents are going through the roof': Why Brookfield CEO Bruce Flatt is bullish on a New York real estate rebound".Yahoo! Finance Canada.2025-09-10.https://ca.finance.yahoo.com/news/rents-going-roof-why-brookfield-231401418.html.Retrieved 2026-02-24.
  14. ↑ 14.0 14.1 "Watch Brookfield's Bruce Flatt on Succession Plan, AI and Strategy".Bloomberg News.2026-02-04.https://www.bloomberg.com/news/videos/2026-02-04/brookfield-s-bruce-flatt-on-succession-ai-and-strategy-video.Retrieved 2026-02-24.
  15. ↑ "2026 Investment Outlook".Brookfield.2025-12-16.https://www.brookfield.com/2026-investment-outlook.Retrieved 2026-02-24.
  16. ↑ 16.0 16.1 "Bruce Flatt Passes the Torch to Teskey at Brookfield Asset Management".Bloomberg News.2026-02-04.https://www.bloomberg.com/news/newsletters/2026-02-04/bruce-flatt-hands-off-to-connor-teskey-at-brookfield-asset-management.Retrieved 2026-02-24.
  17. ↑ "Bloomberg Talks: Bruce Flatt".Bloomberg News.2026-02-04.https://www.bloomberg.com/news/audio/2026-02-04/bloomberg-talks-bruce-flatt-podcast.Retrieved 2026-02-24.
  18. ↑ "Brookfield CEO Bruce Flatt on the "In Good Company" Podcast".Brookfield.2025-09-04.https://www.brookfield.com/views-news/perspectives-podcast/brookfield-ceo-bruce-flatt-good-company-podcast.Retrieved 2026-02-24.
  19. ↑ "Lonti Ebers – Top 200 Collectors".ARTnews.https://www.artnews.com/art-collectors/top-200-profiles/lonti-ebers/.Retrieved 2026-02-24.
  20. ↑ "Amant museum Brooklyn Lonti Ebers".The New York Times.2021-05-04.https://www.nytimes.com/2021/05/04/arts/amant-museum-brooklyn-lonti-ebers.html.Retrieved 2026-02-24.

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