Brookfield Asset Management has reported net income attributable to common shareholders $816m for the second quarter of 2021, compared to a loss of $656m a year ago.
For the quarter ended 30 June 2021, revenues totalled $18.3bn, a surge of almost 43% from $12.8bn in the corresponding quarter of 2020.
Funds from operations increased to $1.6bn for the second quarter from $1.2bn in the year ago period.
The company announced a quarterly dividend of $0.13 per share to shareholders of record as at the close of business on 31 August 2021.
During the quarter, the company’s fee-bearing capital stood at $325bn, which is an increase of nearly $48bn over the year ago period. This led to a $334m rise in fee-related earnings over the same period, the asset manager said in its press statement.
Brookfield CFO Nick Goodman stated: “Our business performed very well during the quarter, recording $1 .2bn of distributable earnings. Growth in our asset management franchise, steady returns on our principal investments and continued momentum on our capital recycling initiatives all contributed to the strong quarter.
“Subsequent to quarter end, we held the first close of $9bn for our fourth flagship real estate fund, and our $7bn founders’ close for our Global Transition Fund, taking total fundraising since last quarter to $24bn. We expect the size of these two funds to exceed $30bn before they close for capital.”