Brookfield Asset Management Q3 fee-related earnings rise on Oaktree acquisition
BAM•Brookfield Asset Management said third-quarter fee-related and distributable earnings rose 15% year over year, while net income increased sharply, aided by the Oaktree acquisition and consolidation.
1. Earnings and fundraising
Brookfield Asset Management reported third-quarter fee-related earnings per share of $0.54 and distributable earnings per share of $0.47. Distributable earnings were $763 million, net income was $3 billion and revenue was $2.15 billion. The company raised $25 billion during the quarter, and fee-bearing capital increased 13% year over year.
2. Deployment and outlook
The company deployed $18 billion and monetized $12 billion in assets during the quarter, realizing $48 million of net carried interest from technology and private equity investments. It expects to finalize the first close of its $26 billion infrastructure flagship strategy in the coming weeks and said fundraising momentum remains strong.
