Brookfield Asset Management Inc, a Canadian corporation was formed on August 1, 1997. It is a global alternative asset management company with over $175 billion in assets under management. The Company organizes its business into a number of operating platforms that are responsible for managing the assets. Asset management operations consist of managing its listed entities, private funds and public securities on behalf of ourselves and its clients. It generates contractual base management fees for these activities and it also is entitled to earn performance fees, including incentive distributions, performance fees and carried interests. It also provides transaction and advisory services. Property operations include the ownership and operation of predominantly office, retail, industrial, multifamily and other property investments located primarily in major North American, Australian, Brazilian and European cities. Renewable energy operations include the ownership and operation of primarily hydroelectric power generating facilities on river systems in North America and Brazil and wind power generating facilities in North America. Infrastructure operations include the ownership and operation of utilities, transport, energy and timberland and agricultural operations located in Australia, North America, Europe and South America. Private equity operations include the investments and activities overseen by its private equity group. These include direct investments and investments in its private equity funds. Its private equity funds have a mandate to invest in a broad range of industries. Residential development operations consist predominantly of homebuilding and land development in North America, and condominium development in Brazil. Service activities include the provision of construction management and contracting, and property services operations which include global corporate relocation, facilities management and residential brokerage services. Corporate activities include the investment of the company's cash and financial assets, as well as the management of its corporate capitalization, including corporate borrowings, capital securities and preferred equity which fund a portion of the capital invested in its other operations. Certain corporate costs such as technology and operations are incurred on behalf of all of its business segments and specifically allocated to each business segment based on an internal pricing framework.