Brookfield Asset Management Q3 profits grow from asset management stake

Brookfield posts US$129m profit in Q3, with full asset management earnings reaching US$619m

Brookfield Asset Management Q3 profits grow from asset management stake

Brookfield Asset Management Ltd. reported a third-quarter profit of US$129m from its 27 percent stake in the asset management business it co-owns with Brookfield Corp., which holds the remaining 73 percent.  

According to BNN Bloomberg, this translated to net income of 30 cents per diluted share for the quarter ending September 30.   

This result marks a slight increase from the same period last year, when Brookfield Asset Management Ltd. earned US$122m, or 31 cents per diluted share.   

Brookfield Asset Management, the asset management business in which Brookfield Asset Management Ltd. holds its stake, was spun off from Brookfield Corp. in 2022.  

The entire asset management business reported a profit attributable to the business of US$544m, an increase from US$494m in the previous year’s third quarter.   

For the quarter, distributable earnings across the full asset management business reached US$619m, up from US$568m in the same period last year.  

These results continue to reflect Brookfield's growth trajectory within the asset management sector, with the business maintaining its financial records in US dollars.