Brookfield 3Q Earnings Rise With Growth Across Wealth Solutions

By Robb M. Stewart

Brookfield saw strong earnings growth in the third quarter as the investment firm benefited from sustained growth across its wealth-solutions platform and strong asset-management fund raising.

Distributable earnings, a measure of cash that can be returned to shareholders, rose to $1.49 billion, or 63 cents a share, for the three months from $1.33 billion, or 56 cents a share, a year earlier.

Net income attributable to shareholders came in at $219 million, or 8 cents a share, against last year's $64 million, or 1 cent a share.

However, revenue was down 8.3% to $18.92 billion for the quarter.

The company said its asset-management business generated record fee-related earnings of $754 million, up 17% on the same period last year, with inflows of $30 billion, the highest fundraising quarter in three years.

Brookfield's wealth-solutions arm originated $5 billion of retail and institutional annuity sales in the quarter, lifting insurance assets to $139 billion, the company said. It deployed $4 billion into Brookfield-managed strategies at an average yield of 9%, and the investment portfolio generated an average yield of 5.7%, it said.

Toronto-based Brookfield said it has advanced $75 billion in asset sales since the start of the year, including more than $35 billion since the second quarter. Activity since the second quarter including monetizing $13 billion of real-estate assets, $9 billion of infrastructure assets, and nearly $8 billion in renewable assets.

The company ended September with about $178 billion of capital that is available to deploy into new investments.

Majority-owned Brookfield Asset Management arm recorded a 6.8% rise in distributable earnings on a year-earlier to $661 million in the third quarter, while fee-related earnings were up 17% to an all-time high of $754 million. The New York-based asset manager said it raised roughly $30 billion in capital during the quarter, and thanks to favorable markets deployed $23 billion into investment opportunities.

Brookfield and BAM last month agreed to buy the rest of alternative investment manager Oaktree for $1.4 billion and $1.6 billion, respectively. That's set to give Brookfield an additional 26% interest in Oaktree's balance-sheet investments and the remaining carried interest, and BAM a further 26% interest in Oaktree's fee-related earnings.

Write to Robb M. Stewart at [e-mail]

(END) Dow Jones Newswires

11-13-25 0808ET