Brookfield Asset Management Inc. reported first-quarter net income attributable to shareholders of $857 million, or 84 cents per share, compared to a net loss of $37 million, or 8 cents per share, in the prior-year quarter.
Revenues for the quarter surged year over year to $12.63 billion from $6.00 billion.
Funds from operations for the first quarter were $1.17 billion, up 74% from $674 million in the year-ago period.
Fee related earnings continue to increase as a result of the growth in fee bearing capital and higher performance fee income. Fee bearing capital grew 12% year over year to $127 billion in the first quarter, led by private funds and public securities businesses, the company said.
