Overview
- Fee-related earnings rose to US$772 million in the first quarter, equal to 48 cents per share.
- Distributable earnings increased 7% to US$702 million, a cash measure managers use to show what could be paid to shareholders.
- Profit reached US$617 million, or 38 cents per share, up from US$581 million a year earlier.
- Fundraising totaled US$21 billion for the quarter and US$67 billion year to date, including a US$40 billion Just Group mandate plus US$13 billion from credit and US$6 billion at the first close of its main private equity fund.
- After the quarter ended, Brookfield closed a £2.4 billion purchase of a U.K. retirement-services provider and repurchased US$375 million of shares as it stressed a focus on hard assets and limited direct private-credit exposure.