- Brookfield Asset Management raised $25 billion in the third quarter, taking 2026 fundraising to $123 billion as it approaches its own annual record.
- Revenue rose 72% to $2.1 billion, fee-related earnings grew 15% to $864 million, and the firm bought the last 26% of Oaktree for $3 billion.
- CEO Connor Teskey says its AI infrastructure approach is unchanged and conservative, a signal that big capital is still lining up behind the buildout despite the post-election tech selloff.
Brookfield Asset Management is on pace to break its fundraising record after raising $25 billion in the third quarter, Commercial Observer reports.
That brings the 2026 total to $123 billion, with infrastructure funds doing the heavy lifting.
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Where the Money Came From
Over the past year Brookfield, which manages more than $1 trillion, has pulled in or been promised roughly $50B for infrastructure funds and $8B for its debt fund.
Revenue jumped 72% to $2.1B. Net income reached just under $3B for the quarter and $5.4B over 12 months, up from nearly $700M and $2.5B a year earlier.
Earnings and Deployment
Fee-related earnings rose 15% to $864M in the quarter and 18% to $3.3B over the trailing 12 months. Brookfield deployed $18B, down from $21B in Q2, and sold or agreed to sell $12B of investments, up from $11B.
It also bought the remaining 26% of Oaktree, its credit arm, for $3B. In July it teamed with Nvidia and Naver on a $9B AI computing investment.
The Teskey Pitch
CEO Connor Teskey said on the earnings call that Brookfield treats AI infrastructure like any other asset class. It puts capital in the ground only after securing offtake, equipment supply and permits, and builds only where it has long-term community support.
He dismissed the broad market selloff that followed the midterms, when several anti-AI Democrats won, saying the firm does not plan to change a model it calls robust and resilient.
Why It Matters
Brookfield’s numbers suggest institutional capital is still flowing to data centers and power, even as politics heat up. We reported that Democratic wins threaten the data center boom, with roughly half of proposed U.S. additions facing heightened scrutiny and a Texas governor-elect who campaigned on halting new projects.
Other big sponsors are moving the same way. Blackstone’s non-traded REIT is funneling $7B of sale proceeds into data centers, according to AltsWire.
What’s Next
Watch whether Brookfield’s discipline on offtake and permits holds up if local opposition grows, and whether year-end fundraising clears the firm’s record.
