Brookfield Asset Management

Brookfield Asset Management: Owner-Operator at Trillion-Dollar Scale

Brookfield Asset Management (BAM) is one of the world’s largest alternative asset managers with over US$1 trillion in assets under management (AUM) in infrastructure, renewable power and transition, private equity, real estate and credit. The listed manager, Brookfield Asset Management Ltd., was separated from Brookfield Corporation in December 2022 and trades on the NYSE and TSX under the ticker symbol BAM. Brookfield’s history traces back to a utility established in 1899 in São Paulo, Brazil to build tramways and hydroelectric plants, which later became Brascan and then Brookfield. Today, the manager is based in principal offices in New York and Toronto and invests as an owner-operator in over 50 countries. It has roughly 250,000 operating employees in the companies it owns and more than 5,800 investment and asset-management professionals.

Business Model & Scale

Since the 2022 reorganization separated the asset management business from Brookfield Corporation’s balance-sheet capital, income has largely come from management fees on fee-bearing capital, which reached US$672 billion at 30 June 2026 — up 19% year-on-year after US$163 billion of inflows over twelve months. Fee-related earnings for the second quarter of 2026 were $808 million and distributable earnings were $707 million for the same period. BAM raised $77 billion of capital in the second quarter alone. It is also the majority owner of Oaktree Capital Management, which it acquired in 2019 to anchor the credit business of the firm. The private-wealth products of Brookfield and Oaktree are distributed by the two companies under the brand Brookfield Oaktree Wealth Solutions.

Private-Wealth Platform

Brookfield offers a range of semi-liquid vehicles that follow its institutional strategies. For private-wealth clients, the flagship is the Brookfield Infrastructure Income Fund (BII): a Luxembourg SICAV-UCI Part II feeder for non-US investors alongside a US tender-offer fund, together holding some US$11 billion of net assets in direct private equity and debt investments in infrastructure across the world at 31 July 2026. The fund is offered on a monthly subscription basis with quarterly redemptions at up to 5% of NAV. In addition to BII, there is a US non-traded REIT, an evergreen private equity fund in Canada and a range of strategies managed by Oaktree including the Oaktree Strategic Credit Fund.

As for institutional investors, the Brookfield Infrastructure Fund V closed at $28bn in 2023 and is to date the largest closed-end infrastructure fund ever raised, while the Brookfield Global Transition Fund series anchors the firm’s energy-transition franchise. Brookfield is one of a small group of managers able to write multi-billion-dollar cheques for infrastructure, energy transition and data center assets and then operate what it acquires for the long term — scale that makes it a reference point for anyone comparing private infrastructure products.