Brookfield Asset Management Doubles Down on Private Credit Amid Rapid Growth

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Brookfield Asset Management, the asset management arm of the Brookfield empire, has experienced extraordinary growth in its fee-bearing assets under management, rising from $277 billion in 2020 to $563 billion by the end of 2025. This growth has been driven in part by a breakthrough among pension funds and the firm's private credit segment, which now accounts for nearly half of the additional capital raised. Brookfield has ambitious plans to double its fee-bearing AUM to $1.2 trillion by 2030, with a focus on expanding its private credit, infrastructure, energy, and private equity strategies. However, the firm's complex structure and occasional creative accounting have drawn criticism, leading some to remain cautious about investing in both the holding company and the asset management platform.

Why it matters

Brookfield's rapid expansion, particularly in the controversial private credit segment, raises questions about the sustainability and transparency of its growth. As one of the largest alternative asset managers, Brookfield's strategies and performance have significant implications for the broader financial industry and the pension funds and other institutional investors that have entrusted it with their capital.

The details

Brookfield's growth has been driven by a highly successful capital-raising machine, with five times more additional capital raised in 2025 than in 2020. This was driven in part by a breakthrough among pension funds, which previously favored liquid market strategies over alternative solutions, as well as the firm's private credit segment. Brookfield plans to double its fee-bearing AUM to $1.2 trillion by 2030, with a focus on expanding its private credit, infrastructure, energy, and private equity strategies. The firm's complex structure, which includes a partial spin-off of the asset management platform, and occasional creative accounting practices have drawn criticism from some investors.

• Brookfield Asset Management's fee-bearing AUM rose from $277 billion at the end of 2020 to $563 billion by the end of 2025.
• Brookfield Asset Management's management fees doubled from $1.3 billion to $2.7 billion over the same period.
• Brookfield Asset Management plans to double its fee-bearing AUM to $1.2 trillion by 2030.

What’s next

Brookfield Asset Management's expansion plans, particularly in the private credit segment, will continue to be closely watched by investors and regulators for any potential risks or transparency issues.