Brookfield Asset Management Reports $67B in Fresh Capital in 2026 So Far

With fee-related earnings up double digits, Brookfield Asset Management (BAM) has an optimistic view of 2026. 

The $1 trillion dollar asset manager reported a strong first quarter in its Friday morning earnings call, celebrating two large flagship fund launches and a $40 billion insurance mandate that leadership said put BAM on a trajectory to exceed its 2026 growth targets.

Friday marked the first earnings call helmed by Connor Teskey, who took over as CEO from Bruce Flatt in February. 

“We have an incredibly positive outlook for 2026,” Teskey said on the call. “We expect it to be a record year for fundraising, not by a little bit.”

BAM’s profits increased in the first quarter of 2026, with fee-related earnings rising by 11 percent year-over-year to $772 million. Distributable earnings also increased to $702 million, or 43 cents per share.

The asset manager raised $67 billion in capital year-to-date, accounting for more than half of the $108 billion raised over the past 12 months. Its overall fee-bearing capital — the total amount of assets under management that earn management fees — now sits at $614 billion.

The recent fundraising boost was largely attributed to two growth engines: insurance inflow and flagship funds. Brookfield Wealth Solutions completed the purchase of U.K.-based retirement services provider Just Group in early April, securing a $40 billion asset management mandate, and its flagship private equity fund has raised $6 billion. Its infrastructure flagship fund also launched last quarter.

Teskey also attributed BAM’s strength, in part, to limited exposure to underperforming areas and outsize investments in the largest, most attractive segments of the alternatives market.

“In real estate, you’re clearly seeing the recovery accelerate,” Teskey said. “Sentiment is improving, financing markets are materially stronger, new supply remains muted in many sectors and, in a number of cases, assets can still be acquired well below replacement cost.”

Teskey’s arrival in the driver’s seat coincided with BAM’s near-completion of its Oaktree Capital Management acquisition, begun in 2019. Oaktree’s real estate credit platform manages around $10 billion in assets.

When it comes to real estate assets, Teskey said BAM is looking to do about $20 billion of real estate transactions over the next two-months.

“What we are seeing on the ground is far ahead of what you’re seeing in the headlines,” Teskey said. “In fact, we are seeing very significant increases in transaction activity, deal volumes and recovery in valuations.”

He added that activity is strongest in alternative forms of real estate, such as hospitality, logistics and housing, but he expects office and retail to bounce back soon.

“The fundamentals for office are absolutely flying,” Teskey said. He noted that a lack of new supply, particularly in the hottest markets, are “seeing the tops come off rents.” 

Aside from ongoing investments in real estate and energy, BAM has dedicated considerable attention to the artificial intelligence boom. 

Teskey said in February he would focus on attracting capital to physical infrastructure investments that support AI technology, and on Friday he said that the balance of AI disruption and AI adoption provides a significant tailwind for Brookfield.

“AI, which for Brookfield really means a focus on AI infrastructure, is undoubtedly the largest and fastest-growing theme across our broader business,” Teskey said.

Emily Davis can be reached at edavis@commercialobserver.com.