Brookfield Asset Management Sets New Records with Strong First Quarter Performance
Brookfield Asset Management (BAM) has kicked off 2026 on a high note, delivering impressive results across its various business segments. In the company's first quarter earnings call, CEO Conor Teskey highlighted the strength of BAM's franchise, the quality of its client relationships, and the growing importance of the areas where it invests.
According to Teskey, fee-related earnings for the quarter increased by 11% to $772 million, while distributable earnings reached $702 million. Notably, BAM raised a staggering $21 billion of capital this quarter, taking its total fee-bearing capital to $614 billion, up 12% over the last 12 months.
The company's fundraising momentum is expected to continue throughout the year, with year-to-date fundraising reaching $67 billion - more than half of the $112 billion raised in all of 2025. This is particularly significant given that BAM has announced new mandates and fund closings across its platform, including the recent purchase of Just Group, a leading pension risk transfer platform in the UK.
The acquisition of Oaktree, which is expected to close in the second quarter, will further strengthen and integrate BAM's global credit franchise. This strategic development is part of the company's broader efforts to expand its presence in retirement and insurance-related capital. As CFO Hadley Peer Marshall noted during the call, these transactions will have a positive impact on BAM's financial performance.
BAM's platform has also seen excellent momentum across its partner managers, with fund closings exceeding targets for Primary Wave, 17Capital, and Pine Grove. This breadth of product sets is driving strong fundraising momentum, positioning BAM well for the balance of the year.
With a broad range of strategies available to investors, including flagship private equity and infrastructure funds, as well as complementary strategies, BAM continues to expect 2026 to be its largest fundraising year ever. As Teskey emphasized, this is not just about numbers - it reflects the continued strength of the company's franchise and the quality of its client relationships.
As investors consolidate their business with fewer managers who can invest at scale across asset classes, geographies, products, and up and down the capital structure, BAM's evolving platform is well-positioned to meet this demand. Its partners are increasingly asking for a view on multiple sectors or funds, rather than just one, demonstrating the company's growing importance in the market.
