Brookfield Reports Record High Capital, $21B AI Infrastructure Investment in France

After officially hitting the $1 trillion mark in assets under management in August, Brookfield (BN) Asset Management hit another milestone in 2024.

The real estate investment trust reported a record high of over $135 billion in capital raised in 2024, according to the company’s fourth-quarter earnings report released Wednesday. It also reported an annual capital deployment of $48 billion, driving 18 percent growth year-over-year for fee-bearing capital to $539 billion, the report said.

In addition, Brookfield announced a major €20 billion infrastructure investment — about $20.7 billion — to support the deployment of artificial intelligence in France, a “huge opportunity” for the company as the “demand for AI infrastructure grows meaningfully higher,” Connor Teskey, president at Brookfield, said during an earnings call Wednesday morning.

The investment will focus on data centers and infrastructure sectors vital to France’s AI development, with Brookfield’s portfolio company Data4 leading up to $15.5 billion in investments and the remaining nearly $5.2 billion set aside for chip storage and energy generation, Brookfield said in an announcement.

Data4 has plans to build over 500 megawatts of data center capacity across several regions in France, with a goal to triple that number by 2030, according to the announcement.

“The €20 billion investment by Brookfield notably through Data4 will allow France to remain in the race alongside major AI players,” French President Emmanuel Macron said in a statement. “This investment demonstrates France’s attractiveness. We have the knowledge, the talents and the decarbonized energy needed to accelerate in AI. We must not slow down. The world is accelerating. This is a battle for independence.”

Outside of its French investment, Brookfield raised $29 billion in organic fundraising during the fourth quarter of 2024, bringing its total for the year to $137 billion, according to the report.

The company also deployed $16 billion of capital in the fourth quarter, with recent investments including $4.5 billion in renewable development businesses such as Neoen and Origis Energy, as well as $2.4 billion in real estate for a portfolio of nearly 5,000 multifamily units and 14 student housing units across the U.S.

“2025 is shaping up to be yet another record year for us,” Teskey said in a statement. “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.”

Isabelle Durso can be reached at idurso@commercialobserver.com.