Brookfield Asset Management Ltd. (BAM) Q4 2022 Earnings Call Transcript

For the period ending December 31, 2022

February 8, 2023 10:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good day and thank you for standing by. Welcome to the Brookfield Asset Management 2022 Q4 Conference Call and Webcast. [Operator Instructions] Please be advised that today’s conference is being recorded. It is now my pleasure to introduce Managing Partner, Branding and Communications, Suzanne Fleming.

Suzanne Fleming

Thank you, operator and good morning everyone. Welcome to Brookfield Asset Management’s first earnings call. On the call today are Bruce Flatt, our Chief Executive Officer; Connor Teskey, President of Brookfield Asset Management; and Bahir Manios, our Chief Financial Officer.

Bruce will start the call today with opening remarks, followed by Connor who will talk about some of the themes we are focused on, and finally Bahir will discuss financial and operating results for the business. After our formal comments, we will turn the call over to the operator and take analyst questions. In order to accommodate all those who want to ask questions, we ask that you refrain from asking more than two questions at one time. If you have additional questions, please rejoin the queue and we will be happy to take any additional questions at the end, if time permits.

I’d like to remind you that in today’s comments including in responding to questions and in discussing new initiatives in our financial and operating performance, we may make forward-looking statements, including forward-looking statements within the meaning of applicable Canadian and U.S. securities laws. These statements reflect predictions of future events and trends and do not relate to historic events. They are subject to known and unknown risks and future events and results may differ materially from such statements. For further information on these risks and their potential impacts on our company, please see our filings with the securities regulators in Canada and the U.S. and the information available on our website.

And with that, I will turn the call over to Bruce.

Bruce Flatt

Thank you, Suzanne. Welcome to everyone on the call and welcome to the new Brookfield Asset Management. This is our first earnings call since we completed the distribution and listing of 25% of the asset management business in December, which is now trading under the symbol, BAM. 2022 was a record year for our business. We raised $93 billion of capital. Our fee-related earnings increased by 25%. And our assets under management currently stand at nearly $800 billion. Bahir Manios will go through our operating and fundraising performance in more detail in his remarks.