Brookfield raises US$26 billion on Oaktree, infra fund boost
BNN Bloomberg
Brookfield Asset Management raised US$26 billion in the third quarter and said it’s on track to bring in close to $150 billion in fresh capital this year, despite a tough fundraising environment.
“2023 is shaping up to be an excellent year for capital raising, which sets the stage next year for excellent earnings and dividend growth,” President Connor Teskey said in a statement Monday. About $11 billion came into the funds of Oaktree Capital.
The Toronto-based alternative asset manager posted distributable earnings of $568 million in the quarter, up eight per cent from the prior year, according to the statement.
Fee-bearing capital, a measure of the amount from which the firm is entitled to earn fee revenue, was $440 billion at the end of September, the same as three months earlier. It has a goal of getting to $1 trillion by 2028.
