Brookfield Asset Management Posts Mixed Q4 But Says $107B Dry Powder Promises Busy Dealmaking Year

Brookfield Asset Management Inc BAM reported fourth-quarter revenues of $1.13 billion, beating the consensus of $1.10 billion. 

Distributable earnings rose to $586 million from $569 million a year ago. EPS of $0.23 missed the consensus of $0.72. 

Fee-Related earnings increased to $581 million from $576 million a year ago on solid fundraising and capital deployment activities.

As of December 31, 2023, the company had $107 billion of uncalled fund commitments and $3 billion of cash and cash equivalents. 

In the fourth quarter, Brookfield Asset Management deployed $15 billion of capital into investments across several large-scale, high-quality businesses and assets.

“With interest rates stabilizing and significant dry powder available, we expect a very active period of transaction activity in the coming year, with valuations for real assets responding accordingly,” said Connor Teskey, President.

In December, the company launched a multi-billion dollar Catalytic Transition Fund at COP28 in Dubai, and UAE’s ALTÉRRA made a commitment of up to $1 billion to this fund. 

Dividend: The company declared a quarterly dividend of $0.38 per share, representing a 19% increase, payable on March 28, 2024, to shareholders of record as of February 29, 2024.

Price Action: BAM shares are trading higher by 0.28% at $39.81 on the last check Wednesday.