Brookfield Asset Management Inc. reported second-quarter net income attributable to shareholders of $225 million, or 19 cents per share, compared to $185 million, or 15 cents per share, in the prior-year quarter.

Funds from operations stood at $1.03 billion, an increase from $637 million in the year-ago period.

Revenues for the quarter climbed to $9.44 billion from $5.97 billion in the prior-year quarter.

The company said it is raising capital for its next flagship real estate fund, which is expected to be larger than its predecessor fund. Brookfield expects to hold a first close later in 2017.