Brookfield (BN) Goldman Sachs U.S. Financial Services Conference summary

Business diversification and fundraising outlook

• Maintains a highly diversified platform across real estate, infrastructure, renewables, credit, and private equity, with 50 funds in the market next year.

• Raised $120 billion in 2024 and $100 billion in 2025; expects 2026 fundraising to be larger due to major funds launching.

• Diversification and operational expertise have enabled consistent fundraising success, even when others faced challenges.

AI infrastructure and capital deployment

• AI infrastructure is viewed as a multi-trillion dollar, 15-year capital formation cycle, with power supply as the critical constraint.

• Building out AI infrastructure backbone globally, with major contracts involving hyperscalers and governments.

• Established a dedicated AI infrastructure fund to avoid over-concentration in existing funds.

• AI buildout impacts all business lines, including real estate, as industrial sites are converted to data centers.

Risk management and strategy in AI and insurance

• Focuses on long-term contracts, credit quality, and operational expertise to mitigate risks in AI infrastructure.

• Insurance business is investment-led, aiming to minimize insurance risk and maximize investment returns using a barbell strategy.

• Seeks low-risk float in property and casualty by leveraging operational knowledge in sectors like real estate and renewables.