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Brookfield Asset Management Inc Class A Limited (BAM+2.41%) has filed its annual report on Form 10-K for the fiscal year ended December 31, 2024. The filing is available for review filing.
The report includes financial statements showing an increase in net income to $541 million from $451 million in the previous year. This increase is attributed to higher earnings from the Asset Management Company and an increased ownership stake resulting from the AEL Mandate.
Base management and advisory fees rose to $2.957 billion, a 7% increase from the prior year, driven by the AEL Mandate and additional capital inflows from Brookfield Wealth Solutions.
Fee-Bearing Capital increased by 18% to $539 billion as of December 31, 2024, due to fundraising activities and strategic investments, including the acquisition of Castlelake and Pinegrove Ventures.
Distributable Earnings for the asset management business were reported at $2.363 billion, up from $2.244 billion, reflecting higher Fee-Related Earnings and investment income.
Brookfield Asset Management Ltd. has maintained a strong liquidity position with $1.8 billion in corporate liquidity, supported by undrawn credit facilities and cash reserves.
The company continues to focus on strategic growth through acquisitions and fundraising, with significant investments in infrastructure and renewable energy sectors.
The filing outlines various risk factors, including market volatility, interest rate fluctuations, and geopolitical uncertainties, which could impact future financial performance.
Brookfield Asset Management Ltd. declared a quarterly dividend of $0.4375 per share, representing a 15% increase over the previous year, reflecting its commitment to returning capital to shareholders.
The report also details the company's sustainability initiatives, emphasizing its commitment to reducing environmental impact and promoting sustainable business practices.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Brookfield Asset Management Inc Class A Limited annual 10-K report dated March 17, 2025. To report an error, please email earnings@qz.com.