Brookfield Asset Management Inc has elevated Connor Teskey to the role of chief executive officer, marking a formal transition in leadership at the large alternative asset manager. Bruce Flatt, who has led the firm for many years, will stay on as chair of the board as the company executes the planned succession.
The leadership change arrives against a backdrop of exceptional financial performance for the New York-headquartered company. Brookfield reported its strongest set of results since it listed publicly, a performance that helped drive the companys shares up 4.5% in premarket trading.
Central to the firms 2025 results was an unprecedented level of fundraising. Brookfield raised $112 billion over the course of the year, a figure that company executives described as a record for the business. In describing the management transition, Mr. Flatt framed the appointment as the outcome of a deliberate succession process: "Todays announcement is the next step in the succession process we started four years ago," Flatt noted in the official announcement.
Financial metrics released with the announcement showed fee-related earnings climbed 28% year-over-year in the fourth quarter, reaching $867 million. The board approved a 15% increase in the quarterly dividend, lifting the payout to $0.5025 per share.
Connor Teskey emphasized operational milestones from the past year, pointing to record performance across multiple areas of the business. "2025 was another record year for our business - across each of fundraising, deployment, and monetizations," Teskey stated regarding the annual performance.
On the strategic front, Brookfield is expanding its footprint through a set of large-scale initiatives. The firm launched a $100 billion global AI infrastructure program and completed the full acquisition of Oaktree Capital Management. Executives said these moves are intended to broaden the company's fee-bearing capital base, which stands at $603 billion.
Liquidity and available capital were highlighted as strengths. Brookfield reported $3 billion of corporate capacity plus $134 billion in uncalled fund commitments that can be deployed. Company statements presented these resources as positioning Brookfield to pursue opportunities as market conditions and valuations evolve.
As Teskey takes on the CEO role, priorities cited by the firm include scaling flagship strategies and integrating recent acquisitions such as Angel Oak. Market participants and investors will be watching whether the new chief executive can sustain the aggressive growth trajectory established by his predecessor.
Summary
Connor Teskey has been appointed CEO of Brookfield Asset Management with Bruce Flatt remaining as chair. The announcement coincided with exceptionally strong 2025 results, including $112 billion raised, a 28% rise in fee-related earnings to $867 million in Q4, a 15% dividend increase to $0.5025 per share, and strategic initiatives like a $100 billion AI infrastructure program and the acquisition of Oaktree.
Key points
- Leadership change - Connor Teskey becomes CEO while Bruce Flatt stays on as chair, following a four-year succession process.
- Record financial milestones - $112 billion raised in 2025, fee-related earnings up 28% to $867 million in Q4, and a 15% rise in the quarterly dividend to $0.5025 per share; shares were up 4.5% in premarket trading.
- Strategic expansion and liquidity - launch of a $100 billion global AI infrastructure program, full acquisition of Oaktree Capital Management, $603 billion in fee-bearing capital, $3 billion of corporate capacity and $134 billion in uncalled fund commitments.
Risks and uncertainties
- Market sensitivity - the companys deployment plans and timing may be affected by changing interest rate environments and global valuation shifts, as noted by the firm.
- Execution and integration - maintaining the firms growth trajectory under new leadership and successfully integrating recent acquisitions, including Angel Oak and Oaktree, remain near-term uncertainties.
- Capital deployment timing - while Brookfield reports substantial uncalled commitments and corporate capacity, how and when that dry powder is deployed will depend on evolving market conditions.
Brookfields combination of record fundraising, increased earnings and strategic program launches sets an ambitious agenda for the incoming CEO. Investors and market observers will be monitoring operational execution and capital deployment as the firm seeks to convert its available resources into realized growth.