Brookfield Asset Management Ltd. Annual Report, Year Ended Dec 31, 2025

Brookfield Asset Management Ltd. (BAM) reported strong financial performance for the fiscal year ending December 31, 2025, with total revenues increasing by 21% to $4.8 billion and net income reaching $2.4 billion. This growth was primarily driven by a 14% increase in base management and advisory fees, supported by significant fundraising across various flagship and complementary funds, particularly in infrastructure, renewable power, and credit strategies. The company also saw a substantial rise in incentive fees and a notable increase in unrealized carried interest allocations, reflecting the positive performance of its investments. Strategically, BAM continued to expand its Fee-Bearing Capital to $603 billion, an increase of 12%, with 87% of this capital being long-dated or perpetual, providing revenue stability. Key initiatives in 2025 included strategic acquisitions like Angel Oak and significant investments in AI infrastructure, particularly in France and Sweden. Furthermore, the company announced a proposed transaction to acquire the remaining 26% interest in Oaktree, expected to close in the first half of 2026, which will further solidify its credit platform. BAM also declared a quarterly dividend of $0.5025 per share, a 15% increase year-over-year, underscoring its commitment to returning capital to shareholders.