Companies · BAM
Brookfield Asset Management
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Latest analysis
Updated Aug 10, 2026
BAM crosses $672B Fee-Bearing Capital with Oaktree fully acquired post-quarter, Credit segment driving 47% of FBC and accelerating fastest
Brookfield Asset Management delivered H1 2026 Distributable Earnings of $1.4 billion, up 11% year-over-year, and Fee-Related Earnings of $1.6 billion, up 15%, on the back of Fee-Bearing Capital that grew $69.4 billion to $672 billion — a 12% increase driven overwhelmingly by Credit, where $64.1 billion of H1 inflows, dominated by BWS insurance capital, lifted that segment's FBC 17% to $326 billion. The post-period Oaktree full acquisition — $2.2 billion attributable to BAM for the remaining 26% — is the most consequential structural event, converting BAM's largest equity-method investment into a consolidated credit platform and eliminating the most significant minority discount in its reported earnings. Unrealized carried interest on new funds reached $2.4 billion, up from $1.6 billion at year-end 2025, with Energy funds (BGTF) and Private Equity driving the bulk of the $791 million H1 build.
Tone: bullishRevenue
$4.8B
BAM 10-K · FY 2025
Employees
5,800
Revenue FY2024
$4B
Founded
2022
Profile
BAM 10-K Item 1 · Mar 2, 2026Brookfield Asset Management Ltd. is a leading global alternative asset manager with over $1 trillion of AUM spanning infrastructure, renewable power and transition, private equity, real estate, and credit. The firm earns asset management income from more than 2,400 institutional clients worldwide and invests Brookfield capital alongside clients to ensure alignment. It operates over 55 active strategies and evaluates performance using non-GAAP measures including Fee-Bearing Capital, Fee Revenues, Fee-Related Earnings, and Distributable Earnings.
Read filing description ↓ Collapse description ↑
We are a leading global alternative asset manager, headquartered in New York, NY, with over $1 trillion of Assets Under Management across infrastructure, renewable power and transition, private equity, real estate, and credit. We invest client capital for the long-term with a focus on real assets and essential service businesses that form the backbone of the global economy. We offer a range of alternative investment products to over 2,400 institutional clients around the world—including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies and private wealth investors which also continues to grow with approximately 60,000 clients representing over 8% of capital raised. We earn asset management income for doing so and ensure strong alignment of interests with our clients by investing Brookfield capital alongside them. Our deep operating expertise, global reach and access to large-scale flexible capital enable us to identify attractive investment opportunities and make investments on a proprietary basis in sizable, premier assets and businesses across geographies and asset classes that we believe few others can. We leverage our team of over 5,800 investment and asset management professionals and employees, including over 300 client service professionals across 32 global offices. We have over 55 unique active strategies that span a wide range of risk-adjusted returns, including opportunistic, value-add, core, super-core, and credit. As at December 31, 2025, we had Fee-Bearing Capital of $603 billion, of which 87% is long-dated or perpetual in nature.
Primary products
- Brookfield Infrastructure Fund (BIF)
- Brookfield AI Infrastructure Fund (BAIIF)
- Brookfield Infrastructure Structured Solutions Fund (BISS)
- Brookfield Infrastructure Partners L.P. (BIP)
- Brookfield Super-Core Infrastructure Partners
- Brookfield Infrastructure Income Fund (BII)
Business segments
End markets
Geographies
Named customers
“Such consolidation may lead institutional fund investors to prefer more established investment firms, which could help us compete against newer entrants or investment firms that are smaller in size or offer more limited types of investment strategies.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Total revenues increased by $837 million in 2025 versus 2024, driven primarily by higher base management and advisory fees and incentive fees as Fee-Bearing Capital grew 12% to $603 billion.
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