Brookfield Asset Management has appointed Connor Teskey as chief executive officer, completing Bruce Flatt’s long-planned succession for the role of running the $1tn asset manager, according to a report by Bloomberg.
The move allows Flatt to focus on transforming parent Brookfield Corp into an investment-led insurance platform, while Teskey takes responsibility for capital raising and growth across Brookfield Asset Management. Flatt will remain chair of the board and continue as CEO of Brookfield Corp.
Teskey, 38, joined Brookfield in 2012 and was appointed head of its renewables wing in 2020 before becoming president of Brookfield Asset Management in 2022, ahead of its spin-out from the parent group. He was also a key proponent of Brookfield’s acquisition of a controlling stake in Oaktree Capital Management.
The announcement came alongside the firm’s fourth quarter results, which showed distributable earnings up 18% to $767m. Fee-bearing capital rose 12% to $603bn, supported by $35bn of fundraising during the quarter and $112bn raised over the past 12 months, with credit strategies accounting for around 65% of inflows.
Teskey will reportedly continue to prioritise opportunities linked to digital and AI-related infrastructure, while being selective on acquisitions. The firm has recently expanded its credit platform through investments including Castlelake, and is increasingly targeting capital from private wealth and retail channels alongside its institutional base.
