Brookfield Asset Management announced its board has appointed Connor Teskey as chief executive officer, formalizing a leadership transition at the global alternative asset manager as it reported record financial results for the quarter and year ended December 31, 2025.
Teskey takes over as CEO of Brookfield Asset Management Ltd., which said it manages more than $1 trillion of assets and delivered its strongest results since listing. Bruce Flatt will continue as chair of Brookfield Asset Management’s board, while also remaining chief executive officer of Brookfield Corporation.
The company framed the CEO appointment as part of a multi-year succession plan, with management citing momentum across fundraising, deployment, and monetization as key pillars for the next phase of growth.
Brookfield reported quarterly fee-related earnings of $867 million, up 28% year over year, and quarterly distributable earnings of $767 million, up 18%. For the full year, fee-related earnings rose 22% to $3.0 billion, and distributable earnings increased 14% to $2.7 billion. Net income was $615 million for the quarter and $2.4 billion for the year.
Operationally, Brookfield said fee-bearing capital grew to $603 billion, up 12% year over year, supported by record fundraising of $35 billion in the fourth quarter and $112 billion for 2025. The firm said it deployed $13 billion in the quarter and $66 billion in 2025, while monetizing $20 billion of assets in the quarter and nearly $80 billion for the year, realizing $50 billion of equity.
Brookfield also highlighted its expanding AI infrastructure push, including a $100 billion global AI infrastructure program anchored by the Brookfield AI Infrastructure Fund, targeting $10 billion in equity commitments and having already secured $5 billion. It also pointed to a $20 billion AI infrastructure joint venture announced with Qai, Qatar’s national AI company, to be executed through its AI infrastructure fund.
Alongside the results and leadership update, the company announced a 15% increase in its common dividend. Brookfield’s board declared a quarterly dividend of $0.5025 per share, payable March 31, 2026, to shareholders of record as of February 27, 2026.
KEY QUOTES
“Today’s announcement is the next step in the succession process we started four years ago. This will set up our next generation of leaders who will guide the company in the coming decades. Connor is an exceptional leader who embodies Brookfield’s culture of collaboration, innovation, and discipline. The entire senior management team is thrilled to work with him as he assumes this role and takes BAM to new levels of success.”
Bruce Flatt, Chair of the Board, Brookfield Asset Management; Chief Executive Officer, Brookfield Corporation
“2025 was another record year for our business— across each of fundraising, deployment, and monetizations. Our fee-bearing capital grew to over $600 billion, with 22% year-over-year growth in fee-related earnings and 14% growth in distributable earnings. Looking ahead, we will have key flagship strategies in the market and a growing suite of complementary offerings, positioning us to drive sustained growth across multiple channels. This confidence supports our decision to increase our dividend by 15%.”
Connor Teskey, Chief Executive Officer, Brookfield Asset Management
