01—Abstract
Summary
Summary of the 10-K filed March 2, 2026. Cited figures are marked; the original filing is the authoritative source.
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 billiona 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 billionb, 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 $0.5025c per share, a 15% increase year-over-year, underscoring its commitment to returning capital to shareholders.
02—Key points
Key Highlights
- Total revenues increased by 21% to $4.8 billion in 2025, driven by strong fee growth.
- Net income attributable to common stockholders was $2.48 billion, up from $2.17 billion in 2024.
- Fee-Bearing Capital grew by 12% to $603 billion as of December 31, 2025, with 87% being long-dated or perpetual.
- Raised over $110 billion in fundraising across various funds in 2025.
- Deployed $65.6 billion across strategies, with significant activity in credit, infrastructure, and real estate.
- Announced proposed acquisition of the remaining 26% of Oaktree, expected to close in H1 2026.
- Increased quarterly dividend by 15% to $0.5025 per share, payable in March 2026.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-KFY2025filed March 2, 2026Financial Statements
FY2025 against FY2024
| Line item | FY2025FY2024 | Change |
|---|---|---|
| Revenue | $4.82B$3.98B | +21.0% |
| Operating Expenses | $2.04B$1.68B | +21.7% |
| Net Income | $2.40B$2.11B | +13.8% |
05—Questions
Frequently Asked Questions
What was Brookfield Asset Management's (BAM) overall financial performance in 2025?
BAM demonstrated strong financial performance in 2025. Total revenues increased by 21% to $4.8 billion, and net income attributable to common stockholders was $2.48 billion, showing a significant increase from the prior year. This growth was driven by higher management fees and a robust increase in Fee-Bearing Capital.
How did BAM's fundraising and deployment activities perform in 2025?
In 2025, BAM raised over $110 billion in capital across its various funds and deployed approximately $65.6 billion. Key deployment areas included credit ($36.3 billion), infrastructure ($10.9 billion), and real estate ($7.5 billion). The company also actively managed its portfolio by selling assets and businesses valued at nearly $80 billion.
What are the key strategic initiatives highlighted in the 2025 report?
Key strategic initiatives for 2025 include the proposed acquisition of the remaining 26% of Oaktree Capital Management, which is expected to further strengthen BAM's credit platform upon closing in the first half of 2026. The company also made significant investments in AI infrastructure in France and Sweden, and acquired a controlling interest in Angel Oak, a specialist in mortgage and consumer products, enhancing its credit management capabilities.
How is BAM returning capital to shareholders?
BAM is committed to returning capital to shareholders, as evidenced by the declaration of a quarterly dividend of $0.5025 per share, representing a 15% increase year-over-year, payable in March 2026. Additionally, BAM has an ongoing share repurchase program, demonstrating its focus on enhancing shareholder value.
06—Continue