Brookfield Asset Management Profit Falls in First Since Spinout [Financial Post (Toronto, Ontario, Canada)]
Brookfield Corporation Class A Limited Voting Shares (BN)
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — Brookfield Asset Management reported its first quarterly decline in profit since it spun out of its parent company amid a drop in fees from some permanent capital vehicles. Distributable earnings were $547 million, or 34 cents a share, in line with the average estimate of analysts in a Bloomberg survey and down from $563 million in the same three months a year earlier. Total fee revenue fell in three of its five main business lines, driven by lower fees from affiliated firms like Brookfield Renewable Partners and Brookfield Property Group. Article content Article content Brookfield was spun out from parent Brookfield Corp. in late 2022 to appeal to shareholders looking to invest in its asset management business without being exposed to its real estate and other so-called real assets. The firm said it raised $20 billion of capital in the first qu
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BN
Earnings
- 5/9/24 - Miss
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Sec Filings
- 5/22/24 - Form F-10
- 5/22/24 - Form F-X
- 5/22/24 - Form F-10
- BN's page on the SEC website