Brookfield Hits Trillion-Dollar AUM Milestone, Joining the Big Leagues
Alternative Investment Giant Reports Strong Second Quarter
August 7, 2024 at 9:40 AM PDT
Brookfield Asset Management has become the latest alternatives giant to cross the trillion-dollar mark in assets under management (AUM). This milestone places Brookfield in an exclusive club, joining the likes of Blackstone, which reached the same milestone earlier this year.
Brookfield reported a net income of $43 million for the second quarter of 2024, a decrease from their net income of $81 million in the same period last year. However, the company noted that this was primarily due to fluctuations in the market. As of December 31, 2023, Brookfield earned over $2 billion of Distributable Earnings per year.
Despite the challenging market environment, Brookfield has continued to make strategic investments. On the GP-led side, this included a $3 billion-plus transaction, a $2 billion-plus deal, and two $1 billion-plus deals. The company also recently announced that companies will invest over $1 trillion into AI-related capital expenditures in the coming years.
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