Brookfield Turns to Credit for Growth With $14 Billion Haul
- Distributable earnings rise to $619 million in third quarter
- Firm says deal activity recovers as central banks cut rates
The Brookfield Asset Management website.
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Brookfield Asset Management raised $21 billion in the third quarter, most of it through Oaktree Capital and other parts of its credit business, underscoring the firm’s increased reliance on lending and insurance products for growth.
Distributable earnings rose 9% from a year earlier to $619 million, Brookfield said in a statement Monday. That equaled 38 cents a share, 2 cents more than the average estimate of analysts in a Bloomberg survey.