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, reflecting strong recurring revenue and robust fundraising momentum.

• Year-to-date fundraising reached $67 billion, with $21 billion raised in Q1, driven by flagship funds, strategic mandates like Just Group, and broad product offerings.

• Fee-Bearing Capital grew 12% year-over-year to $614 billion, with 87% classified as long-term, permanent, or perpetual.

• Strategic acquisitions, including Just Group and the near-complete Oaktree integration, are expanding capabilities in retirement, insurance, and credit.

• Significant capital deployment and monetizations occurred across all business segments, supporting record fundraising and earnings growth.

Financial highlights

• Fee-related earnings for Q1 2026 were $772 million, up 11% year-over-year; distributable earnings were $702 million, up 7%; net income was $586 million, up 16%.

• Fee revenues reached $1.43 billion, up 10% year-over-year, with base management and advisory fees at $860 million and incentive fees at $130 million.

• Fee-Bearing Capital rose to $614 billion, up 12% year-over-year, with $108 billion raised over the past twelve months.

• Share repurchases totaled $375 million in Q1 and $800 million over the past seven months.

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

Outlook and guidance

• 2026 is expected to be a record year for fundraising and fee-related earnings, with flagship funds targeting their largest sizes ever and new mandates driving growth.

• Oaktree integration and Just Group mandate are expected to drive a step-change in revenue and expand the credit platform.

• Anticipated incremental fee generation as $67 billion of uncalled commitments are deployed.

• Margins will reflect consolidation of Oaktree and partner managers, but operating leverage is expected to expand margins over time.

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