Brookfield Asset Management Announces Record First Quarter Results

Core Insights - Brookfield Asset Management reported a 26% year-over-year increase in fee-related earnings, reaching nearly $700 million for the quarter ended March 31, 2025, driven by significant capital inflows [1][3][8] - The company raised $25 billion in capital during the first quarter and over $140 billion in the past year, highlighting strong fundraising efforts across various strategies [1][9] - The flagship real estate strategy saw inflows of $6 billion, bringing its total size to approximately $16 billion, making it the largest real estate strategy ever raised by the company [1][2][9] Financial Performance - Fee-related earnings (FRE) for the quarter were $698 million, or $0.43 per share, compared to $552 million, or $0.34 per share, in the prior year [3][8] - Distributable earnings (DE) increased by 20% to $654 million, or $0.40 per share, from $547 million, or $0.34 per share, year-over-year [3][8] - Net income attributable to Brookfield Asset Management was $581 million for the quarter, up 32% from the previous year [3][8] Fundraising and Capital Deployment - The company raised $25 billion in the first quarter of 2025, with notable contributions from various sectors including real estate, private equity, and credit [9] - Significant capital deployments included $16 billion in the first quarter, with $3.5 billion in renewable power and transition, and $1.1 billion in private equity [9][10] - The company has nearly $120 billion of capital available for deployment, positioning it well for future investments [2][9] Strategic Initiatives - Brookfield Asset Management is expanding its partnerships and enhancing its credit capabilities to better serve clients [12] - The company announced an agreement to acquire a majority stake in Angel Oak, enhancing its capabilities in the U.S. mortgage credit market [13] - The firm increased its ownership interest in Oaktree by 1.5%, bringing its total stake to 74% [13]