Brookfield Asset Management Fundraises $25 Billion in Quarter, Led by Infrastructure Strategies

By Robb M. Stewart

Brookfield Asset Management is seeing no let up in fundraising efforts as it tracks toward a record year, driven by the alternative asset manager's infrastructure franchise as investors seek out real assets for stability and returns.

The New York firm said Friday it fundraised $25 billion in the just-ended quarter, bringing the year-to-date total to $123 billion.

"Our fundraising is showing no signs of slowing down," Chief Executive Connor Teskey said.

A focus on long-duration inflation-linked real assets is driving steady growth through economic cycles, and Brookfield's leadership positions and access to capital allow it to invest at scale into attractive global opportunities, Teskey said.

Capital inflows and deployment helped driven Brookfield's net income in the third quarter to $2.65 billion, or $1.64 cents a share, up sharply from $724 million, or 44 cents a share, a year earlier.

Distributable earnings, a measure of cash that can be returned to shareholders, increased to $763 million, or 47 cents a share, from $661 million, or 41 cents. Analysts polled by FactSet were expecting earnings of $735 million.

Fee-related earnings were up 15% to $864 million in the just-ended quarter, topping the almost $835 million analysts were looking for.

Revenue increased 72% to $2.15 billion from last year's $1.25 billion. That included 27% growth in revenue from base management and advisory fees and a 66% rise in incentive fees.

The company, one of several listed entities that are part of Toronto-based parent Brookfield Corp., said infrastructure remains one of the most attractive asset classes in private markets.

Some $7 billion was raised for the infrastructure segment during the third quarter, including $3.4 billion for the flagship strategy that is headed for its first close in the coming weeks. The quarter also included $1.5 billion raised in the quarter for its supercore infrastructure strategy, and $1.2 billion for its infrastructure private wealth strategy.

Some $1.2 billion was invested in infrastructure during the third quarter, including $500 million of incremental funding for the construction of a U.S. semiconductor fabrication facility and $300 million for a New Zealand energy infrastructure program. In July, Brookfield agreed to invest $9 billion in artificial intelligence computing infrastructure as part of a partnership with Nvidia and Korean internet company Naver.

Infrastructure monetization hit $2.5 billion for the three months, including proceeds from the sale of an Indian telecom tower platform.

Teskey said about $50 billion has been raised for Brookfield's infrastructure strategies in the last 12 months, including $26 billion for its flagship strategy, a record $8 billion for the infrastructure debt strategy, plus record quarterly inflows for the supercore strategy.

Brookfield said it also has been a strong year for private equity, with $2.1 billion raised in the latest quarter that included $1.2 billion for its private equity flagship strategy. It deployed $2.2 billion in private equity, including capital for the acquisition of a music publishing and technology platform, while segment monetization totaled $1.8 billion.

In mid-September, Brookfield though its flagship private equity strategy struck a deal to buy plumbing and heating company Reliance Worldwide at an enterprise valuation of about $2.8 billion.

In energy, Brookfield raised $2.3 billion and deployed $2 billion, including the $1.6 billion acquisition of a renewable power platform. Energy monetization for the quarter amounted to $1.9 billion, which included money raised selling a portfolio of hydroelectric assets.

As of the end of September, Brookfield had a total of $148 billion of uncalled fund commitments, $68 billion of which it said will generate roughly $680 million of annual fees once deployed. Liquidity on its balance sheet stood at $2.1 billion, made up of cash, short-term financial assets and undrawn capacity on its revolving credit facility.

Write to Robb M. Stewart at robb.stewart@wsj.com

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November 06, 2026 07:20 ET (12:20 GMT)