Brookfield Asset Management (BAM) Q2 2026 earnings summary

Executive summary

• Achieved record fundraising of $77 billion in Q2 2026, totaling $98 billion year-to-date, led by flagship strategies and strategic mandates, particularly in private equity, infrastructure, and credit.

• Fee-related earnings rose 20% year-over-year to $808 million; distributable earnings up 15% to $707 million.

• Net income for the quarter was $1.2 billion, up from $584 million in the same quarter last year.

• Strategic partnerships and expansion in AI infrastructure, energy, insurance, and private wealth channels are driving growth.

• Portfolio remains resilient, benefiting from secular growth trends in AI, energy transition, and opportunistic credit.

Financial highlights

• Fee-bearing capital reached $672 billion, up 19% year-over-year, with $77 billion raised in Q2 and $163 billion over the last 12 months.

• Fee-related earnings for Q2: $808 million ($0.50/share), up 20% year-over-year; trailing 12 months FRE: $3.2 billion, up 19%.

• Distributable earnings: $707 million ($0.44/share), up 15% year-over-year; trailing 12 months DE: $2.8 billion.

• Total revenues for the quarter were $1.75 billion, up from $1.09 billion year-over-year.

• Margins remained strong at 57% for the quarter and 58% over the last 12 months.

Outlook and guidance

• Management expects to far exceed previous fundraising records in 2026, with strong momentum across all channels and robust deployment.

• Fundraising for the remainder of the year projected to be balanced across flagships, complementary equity, debt, and insurance.

• 2027 expected to remain strong, with final closes of current flagships and launches of new real estate and credit funds.

• Significant uncalled fund commitments of $149 billion provide future deployment opportunities.

• Fee and earnings trajectory described as rock solid through year-end and into 2027, with potential upside from earlier-than-expected carry realization.