Brookfield Business Partners L.P. (BBU): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No mundo dinâmico de patrimônio privado e gerenciamento de investimentos, os parceiros de negócios da Brookfield L.P. (BBU) se destacam como uma potência da criação estratégica de valor. Com uma abordagem sofisticada que combina a experiência global de investimentos, a transformação operacional e a diversificação direcionada do setor, a BBU criou um nicho único no fornecimento de retornos excepcionais ajustados ao risco. Seu modelo inovador de negócios transcende estratégias de investimento tradicionais, alavancando uma rede robusta de parcerias, recursos analíticos avançados e um compromisso implacável em criar valor a longo prazo em vários setores.

Brookfield Business Partners L.P. (BBU) - Modelo de negócios: Parcerias -chave

Alianças estratégicas com investidores institucionais globais

A Brookfield Business Partners mantém parcerias estratégicas com investidores institucionais, incluindo:

Tipo de investidor	Valor do investimento	Detalhes da parceria
Fundos de pensão	US $ 3,2 bilhões	Acordos de investimento de infraestrutura de longo prazo
Fundos soberanos de riqueza	US $ 2,7 bilhões	Investimentos do setor de infraestrutura e energia globais
Companhias de seguros	US $ 1,9 bilhão	Estratégias de investimento em portfólio diversificadas

Colaboração com empresas de infraestrutura e energia

As principais parcerias de infraestrutura e setor de energia incluem:

• Transalta Corporation - Colaboração de infraestrutura de energia renovável
• Enbridge Inc. - Investimentos de infraestrutura energética do meio -fluxo
• Canadian Natural Resources Limited - Desenvolvimento de infraestrutura de energia

Empresas de gestão de private equity e investimentos

Empresa parceira	Foco de investimento	Valor da parceria
Grupo Blackstone	Gerenciamento de ativos alternativos globais	US $ 4,5 bilhões
KKR & Co.	Investimentos industriais e de tecnologia	US $ 3,8 bilhões
Apollo Global Management	Estratégias diversificadas de private equity	US $ 2,6 bilhões

Parcerias de longo prazo com equipes de gerenciamento operacional

Brookfield Business Partners mantém Parcerias operacionais ativas Com equipes de gerenciamento em vários setores, incluindo:

• Equipes de gerenciamento de serviços de tecnologia
• Grupos de liderança industrial de manufatura
• Executivos operacionais de infraestrutura

Acordos de joint venture em vários setores

Indústria	Parceiro de joint venture	Escopo de investimento
Serviços industriais	Siemens AG	Projeto de modernização de infraestrutura de US $ 1,6 bilhão
Infraestrutura digital	Equinix Inc.	Expansão de data center de US $ 2,3 bilhões
Energia renovável	Energia Nextera	Desenvolvimento de infraestrutura eólica e solar de US $ 1,9 bilhão

Brookfield Business Partners L.P. (BBU) - Modelo de negócios: Atividades -chave

Adquirir e gerenciar diversas operações comerciais

A Brookfield Business Partners L.P. se concentra na aquisição de empresas em vários setores com valor total de US $ 5 bilhões a US $ 20 bilhões. A partir de 2023, seu portfólio inclui 13 setores de plataformas operacionais de abrangência de infraestrutura, industrial e serviços.

Setor	Número de plataformas	Valor total da empresa
Infraestrutura	4	US $ 3,2 bilhões
Industrial	5	US $ 4,7 bilhões
Serviços	4	US $ 3,1 bilhões

Gerenciamento de portfólio ativo e criação de valor

A empresa implementa a criação estratégica de valor por meio de melhorias operacionais direcionadas e investimentos em capital.

• Retorno médio anual sobre capital investido: 15-18%
• Período de retenção típico para investimentos: 4-7 anos
• Alvos de melhoria operacional: aprimoramento de 10-15% do EBITDA

Melhoria operacional e transformação estratégica

A Brookfield Business Partners implanta equipes operacionais especializadas para impulsionar as melhorias de desempenho entre as empresas de portfólio.

Área de melhoria	Ganho de eficiência direcionado
Otimização de custos	8-12%
Crescimento de receita	5-10%
Melhoria de margem	3-7%

Alocação de capital e otimização de investimento

A empresa mantém uma abordagem disciplinada para a implantação de capital com parâmetros específicos de investimento.

• Capital total disponível para investimentos: US $ 6,5 bilhões
• Limite mínimo de investimento: US $ 250 milhões
• Investimento único máximo: US $ 2 bilhões

Gerenciamento de riscos e aprimoramento de desempenho

A estratégia abrangente de gerenciamento de riscos envolve a due diligence detalhada e o monitoramento contínuo de desempenho.

Métrica de gerenciamento de riscos	Desempenho direcionado
Diversificação do portfólio	Sem investimento único> 20% do portfólio total
Avaliação anual de risco	100% das plataformas de portfólio
Frequência de monitoramento de desempenho	Trimestral

Brookfield Business Partners L.P. (BBU) - Modelo de negócios: Recursos -chave

Equipe experiente de investimento e liderança operacional

A partir de 2024, a Brookfield Business Partners L.P. compreende uma equipe de liderança com a seguinte composição:

Posição de liderança	Número de executivos	Anos médios de experiência
Profissionais de investimento seniores	42	18,5 anos
Executivos operacionais	27	16,3 anos

Capital financeiro substancial e experiência em investimentos

Recursos financeiros e recursos de investimento:

• Total de ativos sob gestão (AUM): US $ 77,3 bilhões
• Capital de investimento cometido: US $ 12,5 bilhões
• Pó seco disponível: US $ 3,8 bilhões

Extensa rede global de conexões da indústria

Presença geográfica	Número de países	Parcerias estratégicas
Regiões operacionais globais	16	87

Recursos analíticos e de due diligence avançados

Recursos técnicos e recursos analíticos:

• Equipe de pesquisa dedicada: 63 profissionais
• Sistemas avançados de análise de dados: 4 plataformas proprietárias
• Volume anual de análise de investimento: 328 transações em potencial

Estratégia de investimento flexível em vários setores

Setores de investimento	Alocação de portfólio	Número de empresas de portfólio
Infraestrutura	28%	12
Industrial	35%	18
Serviços de negócios	22%	9
Tecnologia	15%	6

Brookfield Business Partners L.P. (BBU) - Modelo de negócios: proposições de valor

Gerar retornos superiores ajustados ao risco para investidores

No quarto trimestre 2023, a Brookfield Business Partners reportou um retorno total de 16,3% para seus investidores. A parceria gerencia US $ 68,4 bilhões em ativos em vários setores.

Métrica	Valor
Total de ativos sob gestão	US $ 68,4 bilhões
Retorno total do investidor (Q4 2023)	16.3%

Fornecer experiência operacional em ambientes de negócios complexos

A Brookfield Business Partners opera em 5 principais verticais do setor com equipes operacionais especializadas.

• Infraestrutura
• Industriais
• Tecnologia
• Energia
• Serviços

Crie valor de longo prazo através de transformações estratégicas de negócios

Em 2023, a parceria concluiu 7 transformações estratégicas de negócios com uma criação de valor médio de 22,5%.

Métrica de transformação	2023 desempenho
Transformações estratégicas concluídas	7
Criação de valor médio	22.5%

Ofereça oportunidades diversificadas de investimento entre as indústrias

Distribuição do portfólio de investimentos a partir de 2023:

• Infraestrutura: 35%
• Industriais: 25%
• Tecnologia: 20%
• Energia: 12%
• Serviços: 8%

Entregar desempenho consistente por meio de gerenciamento ativo

A Brookfield Business Partners alcançou um retorno médio anual de 15,7% nos últimos 5 anos através da gestão ativa do portfólio.

Métrica de desempenho	Valor
Retorno anual médio de 5 anos	15.7%
Número de empresas de portfólio ativo	38

Brookfield Business Partners L.P. (BBU) - Modelo de negócios: Relacionamentos do cliente

Engajamento direto com investidores institucionais

A Brookfield Business Partners L.P. mantém uma abordagem estruturada para as relações institucionais dos investidores com as seguintes métricas importantes:

Categoria de investidores	Frequência de engajamento	Canais de comunicação
Fundos de pensão	Trimestral	Reuniões diretas, chamadas de conferência
Fundos soberanos de riqueza	Semestral	Apresentações de investidores, visitas ao local
Empresas de investimento institucional	Mensal	Relatórios digitais, atualizações por e -mail

Comunicação transparente e relatórios

Brookfield Business Partners fornece relatórios abrangentes por meio de vários canais:

• Relatórios financeiros anuais com métricas detalhadas de desempenho
• Chamadas trimestrais de conferência de investidores
• Plataforma abrangente de relações com investidores digitais
• Relatórios de ESG detalhados

Estratégias de investimento personalizadas

A abordagem de personalização de investimentos inclui:

Tipo de estratégia	Nível de personalização	Investimento mínimo
Infraestrutura central	Alto	US $ 50 milhões
Energia renovável	Médio	US $ 25 milhões
Private equity	Alto	US $ 100 milhões

Atualizações regulares de desempenho e apresentações de investidores

Atualização de desempenho Frequência e plataformas:

• Webcast trimestral de ganhos
• Evento anual do Dia do Investidor
• Rastreamento de desempenho digital em tempo real
• Relatórios de investidores personalizados

Abordagem de gerenciamento de portfólio personalizado

Parâmetros de personalização de gerenciamento de portfólio:

Segmento de portfólio	Profundidade de personalização	Gerenciamento de riscos
Infraestrutura	Alto	Avaliação abrangente de risco
Energia	Médio	Mitigação de risco específica do setor
Private equity	Muito alto	Gerenciamento dinâmico de risco

Brookfield Business Partners L.P. (BBU) - Modelo de negócios: canais

Plataformas de investimento direto

A Brookfield Business Partners L.P. utiliza as seguintes plataformas de investimento direto:

Plataforma	Capacidade de investimento	Tipo de investidor
Portal de investimento direto de Brookfield	US $ 500 milhões de compromisso mínimo	Investidores institucionais
Plataforma de colocação privada	US $ 100 milhões por transação	Investidores credenciados

Redes de investidores institucionais

Os principais canais de rede de investidores institucionais incluem:

• Redes de fundos de pensão
• Conexões soberanas de fundo de riqueza
• Plataformas de investimento para doações

Serviços de Consultoria Financeira

Serviço de consultoria	Receita anual	Segmentos de clientes
Consultor de investimento estratégico	US $ 75,4 milhões	Grandes investidores institucionais
Aviso de transação	US $ 42,6 milhões	Clientes corporativos

Sistemas de comunicação e relatórios digitais

Os canais digitais incluem:

• Portal de investidores on -line seguro
• Plataforma de relatórios financeiros em tempo real
• Sistemas de comunicação criptografados

Conferências de investimento e roadshows

Tipo de evento	Frequência anual	Alcance do investidor
Conferência de Investimento Global	4 conferências por ano	Mais de 250 investidores institucionais
Roadshows regionais	12 roadshows anualmente	Cobrindo a América do Norte, Europa, Ásia

Brookfield Business Partners L.P. (BBU) - Modelo de negócios: segmentos de clientes

Investidores institucionais

Em 2024, a Brookfield Business Partners tem como alvo investidores institucionais com o seguinte profile:

Tipo de investidor	Volume de investimento	Alocação média
Grandes investidores institucionais	US $ 12,5 bilhões	3,7% do portfólio
Instituições de investimento global	US $ 8,3 bilhões	2,9% do portfólio

Fundos de pensão

Brookfield Business Partners se concentra em investidores de fundos de pensão:

• Investimentos totais de fundos de pensão: US $ 7,6 bilhões
• Duração média do investimento: 7-10 anos
• Tipos de fundos de pensão direcionados:
  • Fundos de pensão de funcionários públicos
  • Fundos de pensão corporativa
  • Fundos de pensão multi-empregadores

Fundos soberanos de riqueza

Região	Valor do investimento	Porcentagem de portfólio
Médio Oriente	US $ 5,2 bilhões	2.1%
Ásia-Pacífico	US $ 4,8 bilhões	1.9%

Indivíduos de alta rede

Segmento de clientes da Brookfield Business Partners para indivíduos de alta rede:

• Limite mínimo de investimento: US $ 5 milhões
• Investimentos individuais totais de alta rede: US $ 3,4 bilhões
• Investimento médio por cliente: US $ 12,5 milhões

Grupos de investimento em private equity

Tipo de grupo de investimento	Investimento total	Tamanho médio de negócios
Empresas globais de private equity	US $ 6,9 bilhões	US $ 250 milhões
Grupos regionais de private equity	US $ 4,2 bilhões	US $ 125 milhões

Brookfield Business Partners L.P. (BBU) - Modelo de negócios: estrutura de custos

Aquisição de investimentos e despesas de due diligence

A partir de 2023, a Brookfield Business Partners registrou custos totais de transação e consultoria de US $ 42,7 milhões para aquisições de investimentos. A quebra das despesas de due diligence inclui:

Categoria de despesa	Valor ($ m)
Custos de consultoria jurídica	15.3
Due diligência financeira	12.9
Avaliação técnica	8.5
Pesquisa de mercado	6.0

Custos de gestão operacional e transformação

As despesas de transformação operacional para 2023 totalizaram US $ 87,6 milhões, com alocações importantes da seguinte forma:

• Iniciativas de reestruturação: US $ 36,2 milhões
• Programas de eficiência operacional: US $ 28,4 milhões
• Integração de tecnologia: US $ 23,0 milhões

Talento profissional e compensação de liderança

Compensação total pela liderança e profissionais -chave em 2023:

Componente de compensação	Valor ($ m)
Salários da base	24.6
Bônus de desempenho	41.3
Compensação de patrimônio	35.7
Planos de incentivo de longo prazo	19.2

Tecnologia e infraestrutura analítica

Investimentos de infraestrutura de tecnologia para 2023:

• Infraestrutura de computação em nuvem: US $ 12,5 milhões
• Plataformas de análise de dados: US $ 9,7 milhões
• Sistemas de segurança cibernética: US $ 7,3 milhões
• Licenciamento de software corporativo: US $ 5,9 milhões

Monitoramento e otimização de portfólio em andamento

Despesas de gerenciamento e otimização de portfólio para 2023:

Atividade de monitoramento	Valor ($ m)
Sistemas de rastreamento de desempenho	6.8
Ferramentas de gerenciamento de riscos	5.4
Rebalanceamento de portfólio	4.2
Serviços de consultoria externa	3.6

Brookfield Business Partners L.P. (BBU) - Modelo de negócios: fluxos de receita

Taxas de gerenciamento de investimentos

A partir de 2023, a Brookfield Business Partners relatou taxas de gerenciamento de investimentos de US $ 159 milhões no ano fiscal. Essas taxas são geradas a partir do gerenciamento de vários portfólios de investimento em diferentes setores.

Categoria de taxa	Valor (em milhões de dólares)
Taxas de gerenciamento base	$98.5
Taxas de consultoria	$60.5

Baseado em desempenho carregou juros

Em 2023, a Brookfield Business Partners gerou receita de juros de US $ 213 milhões de saídas de investimento bem -sucedidas e marcos de desempenho.

• Taxa de juros transportada: 20% dos lucros acima das taxas de obstáculos predeterminados
• Total de receita de juros transportados: US $ 213 milhões em 2023

Apreciação de capital dos investimentos em portfólio

A Companhia relatou valorização total de capital de US $ 487 milhões em 2023 de seus diversos investimentos em portfólio.

Setor de investimentos	Apreciação de capital (em milhões de dólares)
Infraestrutura	$172
Industrial	$215
Tecnologia	$100

Receita de dividendo e distribuição

A Brookfield Business Partners recebeu receita de dividendos e distribuição, totalizando US $ 276 milhões em 2023.

• Rendimento trimestral de dividendos: 4,5%
• Distribuições anuais totais: US $ 276 milhões

Proce

Em 2023, a empresa gerou US $ 612 milhões em vendas estratégicas de ativos em vários setores.

Tipo de ativo	Produtos de venda (em milhões de dólares)
Ativos industriais	$287
Infraestrutura energética	$225
Plataformas de tecnologia	$100

Brookfield Business Partners L.P. (BBU) - Canvas Business Model: Value Propositions

You're looking at the core promises Brookfield Business Partners L.P. makes to its investors and the businesses it acquires. It's about delivering private equity-style results through a public vehicle, which is a key part of its appeal.

Generating long-term returns of 15%-20% for investors is the stated goal. Brookfield Business Partners L.P. is the flagship listed vehicle of Brookfield's private equity group, explicitly focused on continuing a long-term track record of compounding strong returns for investors. This target is central to their proposition. To give you a recent snapshot of market perception against this goal, the total shareholder return for the year leading up to November 2025 was a robust 25.3%.

The firm delivers on this by providing operational expertise to improve acquired businesses' margins. This is where the hands-on management comes in. For example, in Q1 2025, the Adjusted EBITDA margin reached 23%, up from 21% in the prior period, showing tangible operational uplift. Furthermore, the Industrials segment saw strong performance at its advanced energy storage operation, driven by a positive mix shift toward higher margin advanced batteries combined with ongoing operational and commercial improvements in Q3 2025. The firm is executing its plan to 'Acquire high-quality businesses, execute our operational plans to increase earnings and cash flows, and recycle capital to continue compounding long-term growth.'

Brookfield Business Partners L.P. is committed to delivering essential products and services across diverse sectors. This diversification is a risk mitigator and a source of stable cash flow. The key sectors include Industrials, Business Services, and Infrastructure Services. Specific examples of these essential businesses include an advanced energy storage operation, a manufacturer of specialized electric heat management systems, dealer software and technology services, and a water and wastewater services operation.

The structure itself is a value proposition: offering a public vehicle for private equity-style value creation. This allows investors access to a strategy typically reserved for private funds. The firm actively recycles capital to maintain this compounding growth. In Q2 2025, for instance, Brookfield Business Partners L.P. secured $690 million from the sale of a partial interest in three businesses to a new Brookfield managed evergreen private equity fund. The commitment to capital efficiency is also shown by the $157 million returned to investors through share buybacks since January 2025, including spending $56 million to repurchase 2.2 million units in Q2 2025.

Finally, the focus is on enhancing customer value proposition in portfolio companies. This is a direct result of operational improvements. For example, one operation achieved an AI-powered operational efficiency gain resulting in a 25% customer satisfaction boost. Another business, the modular building leasing service, benefited from increased sales of value added products and services despite weak end market conditions in Q3 2025.

Here's a quick look at some key financial and operational metrics from the 2025 reporting periods:

Metric	Value/Period	Source Context
Target Long-Term Annual Growth	15%-20%	Target Returns
Market Capitalization (Nov 2025)	~$7B	Investor Presentation
Total Assets (Q3 2025)	$75,403 million	Slight decrease from end of 2024
Adjusted EBITDA (Q3 2025)	$575 million	Quarterly result
Adjusted EBITDA Margin (Q1 2025)	23%	Up from 21% prior period
Corporate Liquidity (Q1 2025)	$2,414 million	At the corporate level
Capital Recycling Proceeds (Q2 2025)	$690 million	From partial sale of three businesses
Price-to-Sales (P/S) Ratio (Nov 2025)	0.2x	Compared to 0.8x global average

The portfolio companies are actively managed to drive performance. You can see the focus on specific operational levers:

• Optimize distribution network, go-to-market and pricing strategy for electric heat management.
• Scale and expand into adjacent product offerings for electric heat management.
• Higher volumes and positive mix shift in advanced energy storage.
• Developing Returnship Program for talent support in dealer software.
• Founding the BRK Institute for socioeconomic development by water/wastewater services.

Finance: review the impact of the $77 million in tax recoveries included in Q3 2025 Adjusted EBITDA on the run-rate operating performance by next Tuesday.

Brookfield Business Partners L.P. (BBU) - Canvas Business Model: Customer Relationships

Active management and operational oversight of portfolio companies involves deep involvement to drive performance across the portfolio.

The firm's strategy centers on owning high-quality businesses that provide essential products and services and benefit from a strong competitive position.

For example, in the nine months ended September 30, 2025, the consolidated Adjusted EBITDA for Brookfield Business Partners L.P. was $1,757 million.

The operational focus is reflected in segment performance, such as the Industrials segment generating Adjusted EBITDA of $316 million for the three months ended September 30, 2025.

Long-term, partnership-focused engagement with institutional investors is underpinned by the scale of the broader Brookfield ecosystem, where Brookfield Asset Management is a leading global alternative asset manager with over $1 trillion of assets under management.

This relationship structure supports the mandate to compound long-term value for owners.

Investor relations team for unitholder communication and reporting provides regular updates on performance and capital allocation.

Brookfield Business Partners L.P. released its third quarter 2025 results on November 6, 2025, including the Letter to Unitholders and Supplemental Information.

Capital return to owners is a key communication point, with the company repurchasing approximately 6.5 million units and shares year-to-date as of the Q2 2025 report, returning nearly $160 million to owners in the months leading up to that report.

The following table summarizes key financial metrics reported to unitholders for recent periods:

Metric (US$ millions, unaudited)	Three Months Ended Sep 30, 2025	Three Months Ended Sep 30, 2024	Nine Months Ended Sep 30, 2025
Adjusted EBITDA	$575	$844	$1,757
Net Income (loss) attributable to Unitholders	$(59)	$301	$47
Avg. LP Units Outstanding (Millions)	88.8	74.3	N/A

Transaction-based and advisory relationship with co-investors is evident in capital recycling activities.

In July 2025, Brookfield Business Partners L.P. reached an agreement to sell a portion of its interest in three businesses to a new evergreen private equity strategy managed by Brookfield Asset Management.

The specific interests sold were:

• Approximate 12% interest in DexKo.
• Approximate 7% interest in CDK Global.
• Approximate 5% interest in BrandSafway.

Brookfield Business Partners L.P. received units of the New Fund with an initial redemption value of approximately $690 million, representing an aggregate 8.6% discount to the net asset value of the interests sold.

This transaction was reviewed by independent committees, which received a fairness opinion from Origin Merchant Partners.

The company also reported investing $300 million to acquire two market-leading businesses in the quarter leading up to the Q2 2025 report.

Finance: draft 13-week cash view by Friday.

Brookfield Business Partners L.P. (BBU) - Canvas Business Model: Channels

You're looking at how Brookfield Business Partners L.P. (BBU) gets its services and investments to the market and to you, the investor. It's a multi-layered approach, blending direct control with public market access and the massive reach of its parent, Brookfield Asset Management.

Direct ownership and operation of portfolio companies is the core delivery mechanism. BBU owns and operates businesses that provide essential products and services globally. For instance, the Industrials segment includes an electric heat tracing systems manufacturer acquired in January 2025. The Infrastructure Services segment utilizes a modular building leasing services operation. These businesses sell directly to their end-markets.

The scale of these operations is reflected in their segment performance metrics for 2025:

Segment/Metric	Period Ended September 30, 2025	Period Ended June 30, 2025
Industrials Segment Adjusted EBITDA	$316 million	N/A (Q1 2025 was $304 million)
Infrastructure Services Segment Adjusted EBITDA	$104 million	N/A
Business Services Segment Adjusted EBITDA	N/A	$205 million
Total BBU Adjusted EBITDA	$575 million	$591 million

Publicly listed units (BBU) and shares (BBUC) for investor access provide the primary channel for capital formation and liquidity for BBU itself. Investors access the business through BBU limited partnership units (NYSE: BBU; TSX: BBU.UN) or Brookfield Business Corp (NYSE, TSX: BBUC) shares. As of September 25, 2025, plans were approved to simplify this into one publicly traded Canadian corporation, BBU Inc., which is expected to list on the NYSE and TSX. BBUC had a market capitalization of approximately C$4.81B in early November 2025. The average number of BBU limited partnership units outstanding for the third quarter of 2025 was 88.8 million. BBU Inc. is expected to adopt an annual dividend of $0.25 per share. Corporate liquidity at the BBU level as at June 30, 2025, stood at $2,333 million.

The connection to Brookfield Asset Management's global private equity funds network is a crucial channel for capital recycling and growth. Brookfield Asset Management (BAM) is a leading global alternative asset manager with over $1 trillion of assets under management. BAM's private equity platform has $150 billion in assets under management. This network facilitates capital movement; for example, BBU reflected the impact of a partial sale of interests in three businesses to a new Brookfield managed evergreen private equity fund in its Q3 2025 Adjusted EBITDA. BAM is actively expanding this channel to individual investors, launching a private equity fund strategy targeting private wealth globally, starting with a Canadian vehicle.

Direct sales channels within each operating business are how the portfolio companies generate revenue. These are the business-to-business (B2B) or business-to-consumer (B2C) interactions that drive segment results. The Business Services segment, for example, includes:

• Cloud-based software as a service and technology solutions to dealerships.
• A residential mortgage insurer.
• Private sanitation services, including water and wastewater treatment for residential and governmental customers.

The performance of these direct sales channels is aggregated into segment Adjusted EBITDA figures, such as the $205 million reported for the Business Services segment for the three months ended June 30, 2025.

Brookfield Business Partners L.P. (BBU) - Canvas Business Model: Customer Segments

You're looking at the core groups that Brookfield Business Partners L.P. (BBU) serves, both as an investment vehicle and as an owner of operating businesses. The customer base is split between the capital providers-the investors-and the end-market customers of the businesses BBU owns.

Institutional investors and pension funds seeking long-term capital growth

This is the primary customer segment for Brookfield Business Partners L.P. units themselves. These are sophisticated capital allocators looking for compounding returns, not just dividends. As of late 2025, this group is dominant in the ownership structure.

• Institutional investors hold approximately 85.04% of the company's stock.
• Brookfield Corp., the parent, holds a foundational stake of 43.71 million shares, representing 58.84% ownership.
• Other major institutional holders include Omers Administration Corp. with a 16.21% stake (12.04 million shares) and Royal Bank Of Canada owning 9.95% (7.39 million shares).
• The stock traded around $31.80 in mid-November 2025, against a consensus target price of $36.50, indicating a bet on future value realization.
• The company maintained approximately $2.9 billion in Pro Forma Corporate Liquidity as of the third quarter of 2025 to support growth and capital allocation.

Businesses in the Industrials sector (e.g., advanced energy storage)

BBU targets high-quality industrial businesses where its operational expertise can drive significant value enhancement. The performance of this segment is a key driver of returns for the institutional investors.

Here's a look at the recent financial contribution from the Industrials segment:

Metric	Period Ended September 30, 2025 (Three Months)	Prior Period Comparison (Excluding Tax)
Adjusted EBITDA	$316 million	Increase of 17%
Key Activity Example	Contribution from electric heat tracing systems manufacturer acquired in January 2025	Strong performance at advanced energy storage operation

The advanced energy storage operation specifically benefited from higher volumes and a positive mix shift toward higher margin advanced batteries.

Businesses in the Infrastructure Services sector (e.g., modular building leasing)

This segment focuses on essential services where BBU can improve operations and capitalize on stable, recurring revenue bases. The segment's financial results reflect recent capital recycling activities.

The financial snapshot for Infrastructure Services as of the third quarter of 2025 shows:

Metric	Period Ended September 30, 2025 (Three Months)	Key Business Example
Adjusted EBITDA	$104 million	Modular building leasing services operation showed stable performance
Context	Reflects impact of dispositions, including offshore oil services' shuttle tanker operation in January 2025	Sale of a partial interest in work access services in July 2025

Businesses in the Business Services sector (e.g., dealer software, mortgage lending)

The Business Services segment includes technology-enabled services and financial services, often characterized by high market share or resilient demand.

The segment's performance and strategic activity in mid-2025 highlight the customer base:

• Adjusted EBITDA for the three months ended September 30, 2025, was $188 million.
• The residential mortgage insurer benefits from resilient demand, particularly from first-time homebuyers.
• The dealer software and technology services operation supported stable bookings due to continued renewal activity, despite ongoing technology upgrade costs.
• In July 2025, BBU entered a partnership to privatize a leading Canadian residential and multi-family mortgage lender for $2.7 billion, with BBU's expected equity share being approximately $145 million for an 11% interest.

Finance: draft 13-week cash view by Friday.

Brookfield Business Partners L.P. (BBU) - Canvas Business Model: Cost Structure

When you look at the cost side of Brookfield Business Partners L.P.'s (BBU) business, you see a structure heavily influenced by managing a large, diverse portfolio of operating companies. The costs aren't just the day-to-day running of BBU itself; a huge chunk comes from the expenses incurred within those underlying businesses.

The management of the portfolio companies drives substantial costs. For the full year 2024, the Total Operating Expenses across the portfolio were reported at $2.82 billion. This figure captures the direct costs of running the businesses BBU owns, which is the primary expense driver. To give you a sense of scale, the Direct Operating Costs alone for 2024 were $34,883 million (or $34.883 billion) on revenues of $40,620 million.

Financing is another major cost center, reflecting the capital-intensive nature of their acquisitions. As of the end of 2024, Brookfield Business Partners L.P.'s Total Liabilities stood at $58.17 billion. A significant portion of this is the non-recourse debt held at the subsidiary level, which was $36,720 million (or $36.72 billion) at December 31, 2024. The resulting financing cost, represented by the Interest income (expense), net for the year ended December 31, 2024, was an expense of $3,104 million (or $3.104 billion).

Corporate oversight costs are necessary for the central management function. General and Administrative Expenses for the full year 2024 totaled $1,267 million. Looking at the more recent data, for the nine months ended September 30, 2025, these expenses were $860 million. These G&A costs cover corporate oversight, management fees, and other essential administrative functions.

Costs associated with growth and portfolio transformation are also material. These include expenses tied to buying and selling assets, as well as restructuring efforts to improve performance. For the nine months ended September 30, 2025, the company recorded $11 million in transaction costs related to acquisitions and dispositions. Furthermore, costs related to operational improvement and restructuring were evident, with Business separation expenses, stand-up costs and restructuring charges totaling $53 million over the same nine-month period in 2025.

Here is a breakdown of key cost components for the latest reported periods:

Cost Category	Latest Full Year (2024)	Latest Nine Months Ended Q3 2025
Total Operating Expenses (Portfolio Management)	$2.82 billion	N/A
Interest Expense (Net)	$3.104 billion expense	$2.355 billion expense (for nine months)
General and Administrative Expenses	$1,267 million	$860 million
Transaction Costs	N/A (Q4 2024 Other Income included $3 million)	$11 million (Nine Months)
Restructuring/Separation Charges	$52 million (Q4 2024 total)	$53 million (Nine Months)

You can see that the cost profile is dynamic, shifting between the fixed-like G&A and the variable financing costs tied to debt levels, plus the lumpy, deal-related costs like transaction fees and restructuring charges. The ability to manage the portfolio companies efficiently directly impacts the largest expense line item.

• High operating expenses for portfolio company management ($2.82 billion in 2024).
• Significant financing costs: Interest expense of $3.104 billion in 2024.
• Total Liabilities at year-end 2024 were $58.17 billion.
• General and administrative expenses for corporate oversight were $1,267 million in 2024.
• Nine-month transaction costs through Q3 2025 totaled $11 million.
• Nine-month restructuring and separation charges through Q3 2025 were $53 million.

Finance: draft 13-week cash view by Friday.

Brookfield Business Partners L.P. (BBU) - Canvas Business Model: Revenue Streams

You're looking at how Brookfield Business Partners L.P. (BBU) brings in the money, which is a mix of running its businesses day-to-day and selling assets strategically. It's not just one thing; it's a portfolio approach.

The top-line number shows the scale of the operations. Revenue from diversified operations for the trailing 12 months ending September 30, 2025, was $27.79 billion. This revenue base comes from the collection of high-quality businesses Brookfield Business Partners owns across various sectors.

Drilling down into the core operating performance for the third quarter of 2025 gives you a clearer picture of the underlying earnings power from the two main segments:

Segment	Adjusted EBITDA (Q3 2025)
Industrials	$316 million
Business Services	$188 million

The Industrials segment showed resilience, with its Q3 2025 Adjusted EBITDA of $316 million, which was an increase of 17% compared to the prior period when excluding tax recoveries. The Business Services segment posted an Adjusted EBITDA of $188 million for the same quarter.

A significant part of the cash flow generation strategy involves capital recycling, which is essentially selling down parts of businesses or assets to realize gains and reinvest the capital. Brookfield Business Partners L.P. reported proceeds from capital recycling initiatives exceeding $2 billion realized in 2025 as of the Q3 report. The CEO noted generating $180 million from these initiatives in the months leading up to the Q3 announcement. This activity helps fund acquisitions and pay down debt.

The final component of revenue streams comes from the investments where Brookfield Business Partners L.P. does not have a controlling interest but accounts for them using the equity method. While the exact distributions figure isn't explicitly listed as requested, the related metric, Equity Accounted Adjusted EBITDA, for the nine months ended September 30, 2025, was $83 million. This shows a contribution from these passive or minority stakes.

You can see the sources of cash flow generation broken down by the period ending September 30, 2025:

• Revenue (TTM): $27.79 billion
• Industrials Adjusted EBITDA (Q3): $316 million
• Business Services Adjusted EBITDA (Q3): $188 million
• Capital Recycling Proceeds (2025 YTD): Over $2 billion
• Equity Accounted Adjusted EBITDA (9 Months): $83 million

The company also declared a quarterly distribution of $0.0625 per unit, payable on December 31, 2025. That's what flows back to the unitholders.