Brookfield Asset Management (BAM) Q1 2026 earnings summary

Executive summary

• Fee-related earnings rose 11% year-over-year to $772 million in Q1 2026, with distributable earnings at $702 million and net income at $586 million, up 16% year-over-year.

• Fee-bearing capital reached $614 billion, up 12% year-over-year, with $21 billion raised in Q1 and $67 billion year-to-date, including a $40 billion Just Group mandate.

• Strategic acquisitions and the nearing completion of the Oaktree deal are expanding presence in retirement, insurance, and credit.

• Significant capital deployment and monetizations across all business segments, with $20 billion deployed and $8 billion monetized in Q1.

• Positioned for a record fundraising year in 2026, supported by strong client relationships, broad product offerings, and robust demand across infrastructure, private equity, and credit.

Financial highlights

• Fee-related earnings for Q1 were $772 million ($0.48/share), up 11% year-over-year; trailing 12-month FRE reached $3.1 billion, up 18%.

• Distributable earnings were $702 million ($0.43/share), up 7% year-over-year; trailing 12-month DE totaled $2.7 billion.

• Net income reached $586 million in Q1 2026, with revenues of $1.34 billion, up 24% year-over-year.

• Fee revenues for Q1 were $1.4 billion, up 10% year-over-year.

• Corporate liquidity stood at $2.5 billion at quarter end, with $3.5 billion in undrawn credit facilities.

Outlook and guidance

• Management expects 2026 to be a record year for fundraising and fee-related earnings, with flagship funds targeting their largest sizes ever.

• Integration of Oaktree and the new Just Group mandate are expected to drive further growth and incremental fee generation.

• Margins will reflect Oaktree consolidation in Q2, with long-term operating leverage expected to drive margin expansion.

• Quarterly dividend of $0.5025 per share declared, reflecting confidence in future cash flows.