Brookfield Asset Management raised approximately $21bn in the first quarter, putting the alternative asset manager on track for a record fundraising year as it continues to scale across private equity, infrastructure and real assets, according to a report by The Wall Street Journal.
The $1.2tn asset manager has already secured around $67bn in new capital commitments year-to-date, representing more than half of the total raised in 2025, according to management commentary. Chief executive Connor Teskey said the firm expects 2026 to mark a “record year for fundraising”, surpassing long-term internal growth targets.
The group is currently marketing several flagship vehicles, including its latest private equity fund, which has already secured around $6bn ahead of its first close and is expected to become the largest in the firm’s history.
Within infrastructure, Brookfield raised approximately $3.4bn in the quarter, including capital for a retail-focused infrastructure product aimed at high-net-worth investors. The strategy has now accumulated more than $8bn in assets, reflecting continued growth in private wealth distribution channels alongside institutional fundraising.
Management highlighted increasing capital inflows from private wealth channels, particularly in real assets, with growth rates of roughly 40% annually over recent years. The firm is also in discussions with target-date fund providers to expand allocation of real-asset strategies into default retirement portfolios.
Recent strategic developments include Brookfield’s expanded relationship with Oaktree Capital Management, alongside the integration of additional third-party mandates such as a £30bn ($40.65bn) allocation from UK retirement services provider Just Group.
Total assets under management rose to approximately $1.2tn, while fee-bearing capital increased 12% year-on-year to $613.8bn.
Fee-related earnings rose 11% to $772m in the quarter, broadly in line with expectations, while distributable earnings increased 7% to $702m, supported by strength across real assets and complementary investment strategies.
Net income rose 6.2% to $617m, while revenues increased 24% to $1.34bn.
Management reiterated that Brookfield’s portfolio is relatively insulated from volatility in software and private credit markets due to its limited exposure to those sectors. Teskey also noted that the ongoing build-out of artificial intelligence infrastructure represents a structural tailwind for the firm, particularly in data centres and related real asset investment opportunities.
The group continues to see selective recovery in real estate sectors such as logistics, hospitality and residential, while office and retail markets remain under pressure.
Overall, Brookfield positioned its real asset-heavy platform as a relative beneficiary of current macro and technology-driven investment cycles, with AI-related infrastructure demand expected to further support long-term capital deployment.
