Brookfield Asset Management (BAM) Investor Day 2024 summary

Strategic Vision and Growth Outlook

• Plans to double assets under management to $2 trillion in less than five years, leveraging both established and rapidly scaling new strategies.

• Targeting $1.1 trillion in fee-bearing capital within five years, supported by broad product offerings and deep client relationships.

• Growth driven by leadership in infrastructure, renewables, credit, and real estate, with a focus on digitalization, decarbonization, deglobalization, and artificial intelligence.

• Expansion into retail wealth and insurance channels, now representing over $100 billion in capital, with expectations for 30%-50% CAGR in retail fundraising and a $200 billion+ target for Brookfield Wealth Solutions.

• Business model evolution enables access to the largest and fastest-growing pools of capital globally, supporting organic and selective inorganic growth.

Financial Guidance and Business Performance

• Projected 16% CAGR in fee-bearing capital, 17% CAGR in fee-related earnings, and 18% CAGR in distributable earnings over the next five years.

• Fee-bearing capital has grown at a 15% CAGR over five years, with a target of 15%+ long-term annual dividend growth and a ~95% payout ratio.

• Expectation to more than double cash flows and profits in five years, with operating leverage expanding margins to over 60%.

• Distributable earnings projected to reach $6 billion pre-tax by 2029, with $5.1 billion targeted in distributable earnings and $5 billion in fee-related earnings.

• Asset-light balance sheet with no debt and $1.9 billion in cash, supporting both organic growth and strategic partnerships.

Operational Excellence and Competitive Advantages

• Operational expertise and a decentralized, owner-operator culture drive value creation and high returns across cycles.

• Scale and global reach provide unique data, insights, and proprietary deal flow, with two-thirds of transactions sourced bilaterally.

• Strong alignment with clients through significant co-investment and partnership mentality, fostering repeat business and deepening relationships.

• Ability to offer bespoke solutions across the capital stack and asset classes, supported by 240,000 operating employees in 30 countries.

• Repeatable playbook in private equity and credit, focusing on operational improvement, commercial execution, and strategic positioning.