Earnings

Brookfield Asset Management Fee Earnings Rise 15% To $864 Million As Fundraising Hits $123 Billion

The alternative asset manager's fee-bearing capital reached $682 billion, and its flagship infrastructure fund is nearing a first close.

Matteo Parrino Jonathan Ponciano

Matteo Parrino, Jonathan Ponciano

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Brookfield Asset Management Fee Earnings Rise 15% To $864 Million As Fundraising Hits $123 Billion

Brookfield Asset Management, an alternative asset manager that invests client money in infrastructure, energy, private equity, real estate and credit, said Friday that third-quarter fee-related earnings rose 15% to $864 million, up from $754 million a year earlier. CEO Connor Teskey said fundraising is "showing no signs of slowing down."

Fundraising and fee-bearing capital

BAM raised $25 billion in the third quarter and $123 billion for the year to date, according to the company's results. Fee-bearing capital, the client money on which it earns fees, grew 13% from a year earlier to $682 billion, driven largely by $157 billion raised over the last twelve months.

Infrastructure is the engine. Across its infrastructure strategies, BAM said about $50 billion was raised or committed over the past year. That includes $26 billion committed so far to its flagship infrastructure fund, whose first close the company expects in the coming weeks. Of that, $13 billion arrived after quarter end.

Elsewhere, private equity raised $14 billion since September 30, 2025, which the company called a record pace. Evergreen private wealth and super-core strategies drew record combined inflows of about $11 billion, and its AI infrastructure fund and infrastructure debt strategy received $10 billion in commitments over the past year.

Earnings, and the first carried interest

Distributable earnings, the cash available to shareholders, were $763 million, or $0.47 a share, up 15% from $661 million. Net income was $2,999 million against $692 million a year earlier, and it includes a $2.0 billion non-cash gain tied to the Oaktree acquisition and consolidation, a figure the company gave for the trailing twelve months.

BAM realized $48 million of carried interest, net of costs, from selling technology and private equity investments. The company said it was the first meaningful carried interest it had realized since its spinout.

The firm invested $18 billion and monetized $12 billion in the quarter. It completed the purchase of the remaining interest in Oaktree in July. As of September 30, it had $148 billion of uncalled fund commitments, and $68 billion of that would generate about $680 million of annual fees once deployed. Corporate liquidity stood at $2.1 billion.

Dividend and the next dates

The board declared a quarterly dividend of $0.5025 a share, payable December 31 to holders of record on November 30.

The company will publish its third-quarter shareholder letter on November 12.

The flagship infrastructure fund, with $26 billion committed, is expected to hold its first close in the coming weeks.

Sources

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