In the second quarter, Brookfield Asset Management (NYSE:BAM) saw record-high inflows and reports that its prognosis for fundraising is still positive. Distributable earnings for the quarter increased from $1.23 billion a year earlier and $1.18 billion in Q1 to $1.19 billion.
There was also $0.84 in Q2 distributable EPS, down from $0.96 in Q1 and $1.01 in the same period last year.
The investment company also stated that by year’s end, it is on pace to distribute to shareholders and list 25% of its asset management business.
Business is Up for Brookfield
Since the end of the previous quarter, the company has experienced record inflows of $56 billion, of which $41 billion was raised.
It is completing the first closure for its fifth infrastructure flagship fund, valued at $20 billion, and its sixth private equity flagship fund, valued at $8 billion.
The firm anticipates that its flagship real estate fund will reach its final close in Q3 and that it will soon begin seeking money for its subsequent opportunistic credit fund.
Totals of $379 billion at the end of Q1 increased to $392 billion at the conclusion of the quarter. There was also $525M in fee-related earnings, up from $501M in the prior quarter.
In the quarter, the corporation committed and/or invested $36 billion in new investments, up from $33 billion in Q1.
During the quarter, Brookfield (NYSE:BAM) also generated $553M in carried interest, down from $896M in Q1.
Gross target carried interest increased from $4.1 billion in Q1 to $4.3 billion yearly.
A record $111 billion in the capital is currently available for Brookfield (BAM) to use for new projects, up from $85 billion as of March 31, 2022.
Dividend Issued
Brookfield Asset Management (NYSE:BAM) surpassed estimates for FFO by $0.84 and revenue by $3.84 billion.
As in the past, Brookfield Asset Management (NYSE:BAM) has announced a quarterly dividend of $0.14 per share. Future yield is 1.06%.
The dividend is payable on September 29 and is for stockholders with records as of August 31.
Featured Image: Megapixl @Piter2121
