Brookfield (BN) Investor Day 2025 summary

Strategic evolution and growth drivers

• Maintains value investing principles while evolving through strategic shifts, such as spinning out listed entities, launching new business lines like wealth solutions and BAM, and building an investment-led insurance organization.

• Positioned for transformational growth by leveraging AI infrastructure, demographic shifts, and a global real estate recovery, with groundwork for large-scale data centers and $200B in identified AI investments.

• Access to capital has expanded from institutional to private wealth and public markets, with innovation and rapid deployment in sectors once understood.

• Individual allocations to alternatives and retirement savings gaps are fueling a new, powerful capital pool.

• 50% of current assets were not investable 15 years ago, reflecting ongoing expansion into new asset classes and strategies while maintaining a consistent, moderate-risk investment approach.

Financial performance and guidance

• Achieved 22% annualized earnings growth and 16% plan value growth over the past five years, surpassing previous targets.

• Targeting 25% annualized distributable earnings per share growth and 16% planned value growth to $210/share by 2030, with a 25% compound annual growth rate when including capital allocation.

• Conservative capitalization and high liquidity underpin growth, with a diversified earnings stream across asset management, wealth solutions, and operating businesses.

• Monetized over CAD 75 billion in assets, raised CAD 95 billion in capital, and deployed CAD 135 billion into new investments in the last year.

• Over $31B reinvested across businesses in five years, including $12B into BWS and $2B in share repurchases.

Asset management and carried interest

• Asset management business targets 20% CAGR in distributable earnings over five years, with $7.7B distributable earnings projected by 2030, driven by BAM growth, direct investments, and carried interest.

• Carried interest expected to generate $25B net realized over the next 10 years, with $6B in the next three years, and is at an inflection point.

• Carried interest valued at $34B, with a shift from legacy to royalty funds increasing future contributions.