Brookfield Asset Management Ltd. (BAM) reported a net income of $2.4 billion for the fiscal year ending December 31, 2025, with $2.5 billion attributable to common stockholders. This represents an increase from the previous year's net income of $2.1 billion, where $2.2 billion was attributable to common stockholders. The company's revenue reached $4.8 billion, marking a 21% increase from the $4.0 billion reported in 2024. This growth was primarily fueled by a rise in base management and advisory fees, which totaled $3.4 billion, up 14% from the previous year.
The increase in base management and advisory fees was attributed to several factors, including capital raised for the fifth vintage of the real estate flagship fund and the second vintage of the global transition flagship fund, as well as insurance capital inflows from Brookfield Wealth Solutions (BWS) and a higher trading price of Brookfield Infrastructure Partners (BIP), Brookfield Renewable Partners (BEP), and Brookfield Business Partners (BBU). Incentive fees also saw a significant boost, reaching $560 million, a 32% increase from 2024, driven by BBU performance and dividend growth in BIP and BEP. Fee-Bearing Capital increased by $64 billion, or 12%, to $603 billion in 2025, with 87% being long-dated or perpetual in nature.
Strategic developments during the year included the acquisition of a 51.3% economic interest in Angel Oak, a leading asset manager specializing in mortgage and consumer products, for $149 million. Additionally, Brookfield and Oaktree announced a proposed transaction for Brookfield to acquire the remaining 26% interest in Oaktree, aiming to strengthen Brookfield's credit platform. The company also launched a €20 billion infrastructure investment program to support AI infrastructure deployment in France and announced up to SEK 95 billion ($10 billion) of investment to support AI infrastructure development in Sweden. Furthermore, Brookfield partnered with NVIDIA and the Kuwait Investment Authority (KIA) to launch a $100 billion global AI Infrastructure program.
Key operational developments included fundraising of over $110 billion across flagship and complementary funds, with $65.6 billion deployed across various strategies. As of December 31, 2025, the asset management business had $134 billion in uncalled private fund commitments. The company's employee base consists of over 5,800 investment and asset management professionals and employees, with a significant portion located in the U.S. Looking ahead, Brookfield intends to pay out at least approximately 90% of its Distributable Earnings to shareholders quarterly and reinvest the balance back into the business.
About Brookfield Asset Management Ltd.
Brookfield Asset Management Ltd. is a global alternative asset manager specializing in renewable power, infrastructure, real estate, private equity, and credit. It manages over $1 trillion in assets through diversified public and private investment products for institutional and retail clients worldwide. Leveraging deep operating expertise, global reach, and large-scale capital, Brookfield focuses on acquiring high-quality real assets and essential service businesses to deliver long-term, risk-adjusted returns.
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