No. of Recommendations: 3
It was a takeover big enough to transform Brookfield Asset Management into a behemoth. Behind it was a young, ambitious executive obsessed with the details — making an impression on bosses that would put him on the path to become CEO.
Connor Teskey was supposed to be tending to investments in renewables when he pitched higher-ups on the idea of taking a controlling stake in Oaktree Capital Management. He studied its business lines, read every letter that founder Howard Marks ever sent to investors, crunched the numbers and arranged the underwriting. The roughly $5 billion deal announced in 2019 helped catapult Brookfield into the world’s second-largest alternative-asset manager.
Now it’s an open secret in Brookfield’s top echelons that Chief Executive Officer Bruce Flatt, 59, is preparing Teskey, 36, to succeed him atop the Toronto-based firm where assets under management are approaching $1 trillion. That makes him a decade younger than anyone else positioned to run one of its top rivals. Rising to CEO would also line him up to become a billionaire.
https://www.bloomberg.com/news/features/2024-07-17...https://archive.ph/4V5zC 