Brookfield Quarterly Earnings Buoyed by Fund Raising, Wealth Solutions Growth

By Robb M. Stewart

Brookfield notched stronger earnings in the latest quarter as the investment firm saw strong fundraising in its asset-management operations and growth in wealth solutions.

Distributable earnings, a measure of cash that can be returned to shareholders, rose to $1.72 billion, or 73 cents a share, for the three months to Sept. 30,c from $1.49 billion, or 63 cents a share, a year earlier. That beat the roughly $1.6 billion analysts polled by FactSet were expecting.

Net income attributable to shareholders jumped to $1.31 billion, or 54 cents a share, from $219 million, or 8 cents.

Revenue for the third quarter was up 9.4% to $20.69 billion from last year's $18.92 billion.

Toronto-based Brookfield's asset-management arm notched a 15% rise in fee-related earnings for the latest quarter, and raised $25 billion of capital, thanks to what it said was growing investor demand for long-duration, essential-service and inflation-protected assets. Fee-bearing capital increased 13% to $682 billion at quarter end.

Brookfield's asset-management segment has fund-raised $123 billion through the third quarter, which it said reflected strong demand across its flagship and complementary strategies. This included a record $1.2 billion raised for the infrastructure private wealth strategy, and a record $1.5 billion for its super-core infrastructure strategy.

After the third quarter ended, Brookfield received $13 billion of additional commitments for its infrastructure flagship strategy, bringing total capital committed to date to $26 billion and positioning it finalize the first close in the coming weeks as it tracks to being its largest infrastructure fund ever raised globally.

Wealth solutions distributable earnings were 22% higher than a year ago at $511 million. The segment originated about $4 billion of retail and institutional annuity sales during the quarter, helped by the expansion of the distribution platform in the U.S. through new broker-dealer channels, and some $13 billion of capital was deployed that included $8 billion into real-asset strategies, Brookfield said.

Earnings from the sale of assets totaled roughly $222 million for the quarter and $588 million over the last 12 months.

The company ended March with about $207 billion of deployable capital, including $5.4 billion of liquidity, $86.9 billion of cash and undrawn credit lines, and $114.3 billion of uncalled private fund commitments.

Majority-owned Brookfield Asset Management's third-quarter distributable earnings increased 15% to $763 million, or 47 cents a share. Its fee-related earnings rose also rose 15%, to $864 million for the period.

Brookfield has moved this year to simplify the structure of its various listed businesses.

All necessary approvals were secured in October to combine Brookfield Infrastructure Partners LP and Brookfield Infrastructure Corp., putting the new Brookfield Infrastructure Partners Inc. on track to begin trading on the New York and Toronto stock exchanges later this month. In March, Brookfield Business finalized a similar transition into a single traded corporation. And in July, Brookfield Wealth Solutions received the go ahead from shareholders for a transaction that will see it delisted and Brookfield become the new parent entity.

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

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November 12, 2026 07:59 ET (12:59 GMT)