Global investment firm Brookfield Asset Management is on track for a new fundraising record. In the third quarter, the company secured 25 billion dollars in fresh capital. This brings the total capital raised since the beginning of the year to 123 billion dollars. The New York-based firm now oversees total assets of more than 1 trillion dollars.
The infrastructure investment segment is making a substantial contribution to this momentum. Over the past year, Brookfield's infrastructure funds attracted commitments and inflows of around 50 billion dollars, while a further 8 billion dollars was secured for its dedicated credit fund. Demand is driven not least by the expansion of digital networks and highly specialised data centres for artificial intelligence.
Jump in revenue and risk-conscious project development
The inflows are clearly reflected in the quarterly figures. Revenue at Brookfield Asset Management rose by 72 per cent year-on-year in the third quarter to 2.1 billion dollars. Net profit reached almost 3 billion dollars, compared to around 700 million dollars in the prior-year quarter. On an annual basis, net profit stands at 5.4 billion dollars, up from 2.5 billion dollars in the previous comparative period. Fee-related earnings grew by 15 per cent in the quarter to 864 million dollars, reaching 3.3 billion dollars over the past twelve months.
Despite the rapid market expansion in AI-backed projects, Connor Teskey, Chief Executive Officer of Brookfield Asset Management, stressed the group's conservative orientation. The company applies the same risk-mitigating approach to data centres as it does to traditional industrial facilities. Capital is committed only once binding offtake agreements, equipment supply chains and regulatory approvals are in place, and long-term local support is secured. Potential market uncertainties stemming from political shifts are met with composure, as the existing business model remains resilient.
Capital deployment and strategic acquisitions
On the investment side, Brookfield deployed 18 billion dollars in the third quarter, following 21 billion dollars allocated in the previous quarter. In parallel, the firm disposed of or agreed the sale of assets valued at 12 billion dollars, representing a slight increase on the 11 billion dollars recorded in the prior quarter.
In addition, the company completed key strategic transactions. Brookfield acquired the remaining 26 per cent of Oaktree for 3 billion dollars, bringing the credit business entirely into its own portfolio. Earlier in July, the asset manager also partnered with chipmaker Nvidia and South Korean internet group Naver to carry out a joint 9 billion dollar investment in data centre infrastructure for AI applications.
