BAM Reports Capital Inflows of Over $135 Billion

Brookfield Asset Management Ltd (BAM), a leading global alternative asset manager headquartered in New York with over $1 trillion of assets under management, on Wednesday said that the capital inflows were to the tune of over $135 billion and deployed $48 billion in capital in 2024.

Announcing the financial results for the year ended 31 December 2024, BAM President Connor Teskey said that 2024 was another strong year for their business and of the $135 billion of capital, the company raised $29 billion of organic fundraising in the fourth quarter.

“This fundraising momentum, alongside annual capital deployments of $48 billion drove year-over-year growth of 18% for our fee-bearing capital, and 17% for our fourth quarter fee-related earnings,” he said.

He continued: “2025 is shaping up to be yet another record year for us. We have a great foundation in place, with well-positioned, diversified fund offerings in leadership positions across the fastest growing areas in the alternatives space. Driven by the growth in our flagship and complementary funds and credit business, this positive outlook and our strong financial position enabled us to raise our quarterly dividend by 15%.”

“Finally, last week we closed the previously announced transaction between BAM and Brookfield Corporation, and as a result, BAM, with 1.6 billion shares now outstanding, owns the entire asset management business at an equity market capitalization approaching $100 billion,” he added.

Operating Results

Net income for BAM totalled $186 million for Q4-2024 compared withj $95 million during the corresponding period in the previous year.

Up until the closing of the transaction last week, BAM owned an approximate 27% interest in its asset management business with the other approximate 73% owned by Brookfield Corporation (BN).

Financial Results

Fee-bearing capital (FBC) reached $539 billion at the end of the fourth quarter, up $82 billion or 18% over the past year.

In the quarter, FBC benefitted from fundraising within our transition and real estate flagship funds, deployments within our infrastructure debt fund, and NAV increases across Oaktree perpetual credit funds, partially offset by a decrease in our listed affiliate share prices.

On the back of this growth in fee-bearing capital, fee-related earnings were a record $677 million ($0.42/share) for the quarter and $2.5 billion ($1.51/share) in 2024, up 17% and 10% over the same periods in the prior year, respectively.

Distributable earnings were $649 million ($0.40/share) for the quarter and $2.4 billion ($1.45/share) over the last twelve months, up 11% and 5% over the same periods in the prior year, respectively, BAM said.

Fundraising

BAM has raised $29 billion in Q4 of 2024 and $137 billion during the year. Its complementary strategies continued to scale and contributed to a greater proportion of the company’s overall fundraising in the quarter.

Notable fundraising updates for the fourth quarter include: $4.2 billion in renewable power, including $3.5 billion for the second vintage of BAM’s global transition flagship fund strategy, $2.5 billion in infrastructure including $700 million for its super-core infrastructure strategy, $1.8 billion in capital in private equity in Q4 of last year including $1 billion for its Middle East fund and $500 million for the second vintage of our special investments fund.

BAM raised over $700 million for real estate during the quarter, including nearly $500 million raised for the fifth vintage of our flagship real estate fund strategy and expects to hold a final close for this flagship in the first half of 2025.

It also raised around $20 billion of capital in credit including $9.2 billion across Oaktree funds and strategies, $6.6 billion from insurance clients, $1.7 billion for the fourth vintage infrastructure debt fund, and approximately $900 million across other credit partner managers.