Brookfield Asset Management (BAM) Goldman Sachs 2024 U.S. Financial Services Conference summary

Strategic priorities and growth outlook

• Focus remains on executing established strategies to drive high-teens growth in FRE and total earnings, with an emphasis on expanding existing business lines and client base.

• The environment for alternative asset management is described as highly constructive, with increasing demand from both institutional and retail investors.

• Fundraising is expected to reach $100–$150 billion annually, driven by consistent annuity, retail, and institutional inflows.

• Retail and annuity channels are seen as major growth areas, with tailored products and a large addressable market.

• Execution and differentiation through scale, operating skills, and global presence are key competitive advantages.

Fundraising, monetization, and deployment trends

• Institutional clients continue to increase allocations due to strong historical performance in private markets.

• Monetizations are expected to accelerate in 2025, with broad-based exits across real estate, private equity, and infrastructure, supported by improved credit market liquidity.

• Deployment is increasingly focused on the U.S. due to greater opportunities from market dislocations, while international sales remain robust.

• Major investment themes include digitalization, decarbonization, and reshoring, particularly benefiting infrastructure and data center businesses.

Private credit and insurance strategies

• Private credit is the largest business segment, with $300 billion in assets, expanding through both internal growth and acquisitions like Castlelake.

• The firm leverages its expertise and information advantage from being a major equity investor to make superior credit decisions.

• Insurance origination is targeted to grow from $20 billion to $40 billion annually, capitalizing on demographic trends and proprietary annuity channels.

• Asset management remains asset-light, focusing on fee generation and capital deployment for insurance partners.