Brookfield Asset Management raised 25 billion dollars in the third quarter of 2026, taking fundraising for the first nine months of the year to 123 billion dollars, the company reported on November 6. Credit contributed 12 billion dollars of the quarterly total and infrastructure 7 billion dollars, so the raise spans the firm’s businesses rather than representing an AI only fund.
Fee-bearing capital, the base from which Brookfield earns recurring fees, grew 13 percent year over year to 682 billion dollars. Quarterly fee-related earnings rose 15 percent to 864 million dollars and distributable earnings also rose 15 percent to 763 million dollars. Net income was about 3.0 billion dollars, a figure that included a 2.0 billion dollar non-cash gain from the acquisition and consolidation of Oaktree, so it overstates recurring operating profit.
Infrastructure has become the largest draw. Brookfield said it had raised or received commitments of about 50 billion dollars across its infrastructure strategies in the past year, and its flagship infrastructure strategy had attracted 26 billion dollars of commitments by early November, ahead of an anticipated first close. Its AI infrastructure fund and infrastructure debt strategy together received about 10 billion dollars in commitments over the year leading into the results.
The firm reported AI factory projects in execution in the United States, Canada, Korea, France and the United Kingdom, including agreements signed in the quarter to develop an AI factory in the United Kingdom and to invest up to 9 billion dollars in next generation AI computing infrastructure in Korea with NAVER and NVIDIA. Infrastructure deployment in the quarter totalled 1.2 billion dollars, including 500 million dollars of incremental funding for construction of a United States semiconductor fabrication facility.
Chief executive Connor Teskey said Brookfield takes the same approach to AI infrastructure that it takes to any other infrastructure asset class, drawing on decades of large scale infrastructure investing. The company also completed its acquisition of the remaining interest in Oaktree in the period and held 148 billion dollars of uncalled fund commitments at quarter end.