Brookfield Asset Management Ltd (NYSE/TSX: BAM) is an alternative asset management company that raises and deploys client capital across infrastructure, renewable power and transition, private equity, real estate, and credit strategies. It earns revenue primarily through base management fees charged on fee-bearing capital, supplemented by incentive distributions, performance fees, and transaction and advisory fees. As of December 31, 2025, BAM managed over $1 trillion in total assets under management, with $279.4 billion in fee-bearing capital across its credit strategies alone. The firm serves over 2,400 institutional clients globally, including pension plans, endowments, sovereign wealth funds, insurance companies, and private wealth investors, with approximately 60,000 private wealth clients representing over 8% of capital raised as of the 10-K filed March 2, 2026. Headquartered in New York, NY, BAM is majority-owned by Brookfield Corporation (BN). Connor Teskey was appointed Chief Executive Officer effective February 4, 2026, with Bruce Flatt continuing as Chair of the Board.

Revenue model

Base management fees on fee-bearing capital are the primary revenue source: $4.896B in base management fees in FY2025 vs. $4.233B in FY2024. Total fee revenues were $5.487B in FY2025, comprising base management fees ($4.896B), incentive distributions ($466M), performance fees ($95M), and transaction and advisory fees ($30M). Fee-Related Earnings attributable to BAM were derived after deducting direct costs of $2.410B in FY2025.

Products and services

Alternative investment funds across five strategies: infrastructure, renewable power and transition, private equity, real estate, and credit. Fund structures include long-term private funds (flagship and co-investment), perpetual strategies (including BIP and BPG vehicles), and liquid strategies. Total fee-bearing capital as of December 31, 2025 was $279.4B in credit, with long-term private funds at $86.9B, permanent capital and perpetual strategies at $115.1B, and liquid strategies at $77.4B within that segment.

Customers and end markets

Over 2,400 institutional clients including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, and insurance companies. Private wealth investors represent approximately 60,000 clients and over 8% of capital raised as of the 10-K filed March 2, 2026.

Value-chain role

Alternative asset manager acting as general partner and investment manager. Raises third-party capital, deploys it into real assets and essential service businesses, and charges fees for ongoing management, performance, and advisory services. Does not primarily own assets on its own balance sheet but manages assets on behalf of institutional and private wealth clients.

Geographic exposure

Headquartered in New York, NY. Described in the 10-K as a global manager; specific country-level revenue breakdown is not disclosed in the provided filing excerpts.

Source: SEC 10-K, filed 2026-03-02

Industry: Investment Advice Peers: Brookfield Corp