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.

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“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.”