Brookfield (BAM) Q4 2025 Earnings Call Transcript

Motley Fool Transcribing, The Motley Fool

Wed, February 4, 2026 astatine 10:37 AM CST 42 min read

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Wednesday, February 4, 2026 astatine 10 a.m. ET

• Chair — Bruce Flatt

• Chief Executive Officer — Connor Teskey

• Chief Financial Officer — Hadley Peer Marshall

• Managing Director, Investor Relations — Jason Fooks

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Bruce volition statesman with an overview of the 4th and the marketplace environment. Connor volition sermon our enactment successful 2025 and outline cardinal drivers of our maturation for 2026. And finally, Hadley volition sermon our fiscal results, operating results, equilibrium sheet, and dividend increase. After our ceremonial remarks, we'll unfastened the enactment for questions. To guarantee we tin perceive from arsenic galore participants arsenic possible, we're asking for everyone to delight bounds themselves to conscionable 1 question. If you person further questions, delight rejoin the queue, and we'll beryllium blessed to instrumentality much questions if clip permits. And with that, I'll crook the telephone implicit to Bruce.

Bruce Flatt: Thank you, Jason, and welcome, everyone. 2025 was different beardown twelvemonth marked by continued maturation crossed the concern and accordant execution against our semipermanent strategy. Let maine commencement with a fewer highlights. We raised $112 cardinal of superior during the year, reflecting beardown request from institutional, insurance, and individuals for our divers suite of strategies. We besides invested a grounds $66 cardinal of superior implicit the past twelvemonth into high-quality assets and businesses that signifier the backbone of the planetary economy. We made these investments successful areas wherever we person heavy competitory advantages and beardown operating capabilities, positioning america to make precise charismatic risk-adjusted returns.

At the aforesaid time, we monetized $50 cardinal of equity from investments astatine precise bully returns, demonstrating that stabilized high-quality assets and indispensable work businesses proceed to pull beardown demand. As a effect of each of this activity, fee-bearing superior accrued 12% implicit the twelvemonth to much than $600 billion. Fee-related net reached a grounds $3 billion, up a precise beardown 22% twelvemonth implicit year, driven by maturation successful our superior basal and continued operating leverage crossed the business. Distributable net were $2.7 billion, an summation of 14% from the anterior year. Our distributable net are astir wholly fee-based, arsenic you know, and agelong duration.

Our currency flows are further reinforced by the diversification of our level crossed plus classes, products, geographies, and lawsuit channels. This diverseness and deficiency of reliance connected immoderate azygous conception oregon merchandise provides our concern with galore maturation options, providing a level to turn crossed economical cycles and varying marketplace conditions. Turning to the broader marketplace environment. We entered 2026 with a constructive backdrop. Interest rates person stabilized. Economic maturation is resilient. And transaction enactment has accrued owed to improved assurance successful valuations and marketplace liquidity. In this environment, we are seeing renewed planetary request for existent assets that make unchangeable currency flows and supply ostentation protection. Areas wherever we person focused for decades.