Brookfield Asset Management Missed Expectations In Q1 Despite Strong Fundraising


Brookfield Asset Management Ltd BAM reported Q1 2023 revenues of $966 million which missed the consensus of $1.11 billion

  • EPS of $0.32 missed the consensus of $0.33
  • Distributable earnings rose 15% Y/Y to $563 million, with Fee-Related earnings increased 11% Y/Y to $547 million on solid fundraising and capital deployment activities.
  • Assets under management stood at $834 billion at the end of the quarter. 
  • In Q1, the company launched Brookfield Infrastructure Income Fund and has raised over $750 million year-to-date. Post-quarter end, BAM initiated fundraising for the second vintage of its flagship Brookfield Global Transition Fund and attained $10 billion.
  • The company has cash of $3.2 billion as of March 31, 2023. BAM invested $17 billion of capital in the quarter. 
  • BAM declared a Q1 2023 dividend per share of $0.32, payable on June 30, 2023, to shareholders of record as on May 31, 2023.
  • The company raised $19 billion of capital year to date, increasing trailing twelve months to nearly $100 billion, Brookfield president Connor Teskey said.
  • "We expect this will be another strong year for fundraising," Teskey added. 

Price Action: BAM shares closed higher by 1.03% at $33.29 on Tuesday.


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