Brookfield runs $50 billion businesses out of Bermuda building with bike shop

A CTV report this morning that many of the core businesses of Brookfield Asset Management, where Mark Carney was Chair until January, have registries to 73 Front St. in Hamilton, Bermuda. The building is an oceanfront address with a bike shop that looks like this.

CTV found:

The company’s annual report for the fiscal year ending December 2024 outlines five core areas of its businesses — renewable power and transition, infrastructure, private equity, real estate and credit — along with their corresponding LPs (limited partnerships).

Four of those LPs are registered to an office in a building on Front Street, a busy, waterfront promenade in Bermuda’s capital that is lined with colourful, colonial-era buildings.

CTV reports that three of those businesses, Brookfield Renewable Partners L.P., Brookfield Infrastructure Partners L.P., and Brookfield Business Partners L.P., are worth a combined $50 billion.

Experts say Brookfield “may claim the title of Canada’s top tax dodger.” Recently, a review of their annual report found that despite reporting a billion in profits, Brookfield Asset Management paid no income tax in the last three years Carney was Chair.