No. of Recommendations: 2

I think absurd100 and ultimatespinach said it about as well as I could (probably better). These aren't transformational changes, though I do think the potential sale of the timber assets is an interesting development.

To the point about regional preference, I think you've hit on something that will dictate acquisitions to a point and that is regional familiarity. As ultimatespinach pointed out, political stability is important, but so are relationships, so I think BAM will see more opportunities in places where they already have a presence just because they are a known entity in those parts and they know the people they will likely be dealing with. For instance, I'd look for more asset purchases in Colombia in the relatively near future.

I'm also waiting for the first continental European purchases to pop up in the relatively near future (BAM just bought a decent sized commercial real estate portfolio in London, but that is a little different).
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