Key Takeaways
- • Connor Teskey appointed CEO of Brookfield Asset Management, effective February 3, 2026, completing Bruce Flatt's succession plan initiated four years ago; Flatt remains chairman and CEO of parent Brookfield Corporation.
- • Brookfield Asset Management raised a record $35 billion in Q4 2025 and increased distributable earnings to $767 million ($0.47 per share), exceeding analyst consensus of $700 million ($0.43 per share), supporting a 15% dividend increase.
- • Teskey, age 38, brings 14 years of Brookfield experience, having joined in 2012, served as President since 2022, and led the Renewable Power & Transition business and Brookfield Renewable Partners; he will retain his renewable energy CEO role alongside the top asset management position.
- • Fee-related earnings grew 22% to $3 billion in 2025 as the $1 trillion alternative asset manager expands its fee-generating business and capitalizes on mega-trends including energy transition and infrastructure.
Summary
Brookfield Asset Management has completed its long-planned leadership transition with the appointment of Connor Teskey as Chief Executive Officer, effective February 3, 2026. Teskey succeeds Bruce Flatt, who led the firm as CEO since 2002 and will transition to the role of chairman while remaining CEO of parent Brookfield Corporation. The succession represents the culmination of a four-year transition process that gained momentum when Flatt assumed the additional title of chairman in early 2025, following Mark Carney's departure from his role as chair to pursue political leadership in Canada.
Teskey's appointment reflects both internal development and strategic continuity at the $1 trillion alternative asset manager. The 38-year-old executive joined Brookfield Asset Management in 2012 and was elevated to President in 2022. He has led the firm's Renewable Power & Transition business and serves as CEO of Brookfield Renewable Partners, overseeing investments, operations, and expansion of the renewables platform. Industry observers widely anticipated his selection as successor. Notably, Teskey will retain his renewable energy leadership responsibilities alongside his new role as CEO of the asset management division, reflecting the strategic importance of the energy transition business to the firm's growth trajectory.
The appointment was announced alongside strong financial results demonstrating momentum at the asset manager. Brookfield Asset Management raised a record $35 billion in the final quarter of 2025, while distributable earnings—a key metric for cash available for shareholder returns—increased to $767 million, or $0.47 per share, in the latest quarter, compared with $649 million, or $0.40 per share, a year earlier. This performance exceeded analyst consensus estimates of approximately $700 million, or $0.43 per share, according to FactSet polling. Fee-related earnings surged 22% to $3 billion for the full year 2025. In response to the strong capital raise and earnings growth, the firm announced a 15% dividend increase.
Flatt emphasized that the asset manager's strategic focus remains unchanged: generating increasing cash flows on a per-share basis and distributing capital to investors through dividends or share repurchases. The combination of robust capital raises, above-consensus earnings growth, and expanded shareholder distributions underscores Brookfield's execution in a competitive alternative investment landscape. Teskey's appointment signals continuity in this capital allocation discipline while positioning the firm to expand around key secular trends shaping the global economy.
Teskey's appointment reflects both internal development and strategic continuity at the $1 trillion alternative asset manager. The 38-year-old executive joined Brookfield Asset Management in 2012 and was elevated to President in 2022. He has led the firm's Renewable Power & Transition business and serves as CEO of Brookfield Renewable Partners, overseeing investments, operations, and expansion of the renewables platform. Industry observers widely anticipated his selection as successor. Notably, Teskey will retain his renewable energy leadership responsibilities alongside his new role as CEO of the asset management division, reflecting the strategic importance of the energy transition business to the firm's growth trajectory.
The appointment was announced alongside strong financial results demonstrating momentum at the asset manager. Brookfield Asset Management raised a record $35 billion in the final quarter of 2025, while distributable earnings—a key metric for cash available for shareholder returns—increased to $767 million, or $0.47 per share, in the latest quarter, compared with $649 million, or $0.40 per share, a year earlier. This performance exceeded analyst consensus estimates of approximately $700 million, or $0.43 per share, according to FactSet polling. Fee-related earnings surged 22% to $3 billion for the full year 2025. In response to the strong capital raise and earnings growth, the firm announced a 15% dividend increase.
Flatt emphasized that the asset manager's strategic focus remains unchanged: generating increasing cash flows on a per-share basis and distributing capital to investors through dividends or share repurchases. The combination of robust capital raises, above-consensus earnings growth, and expanded shareholder distributions underscores Brookfield's execution in a competitive alternative investment landscape. Teskey's appointment signals continuity in this capital allocation discipline while positioning the firm to expand around key secular trends shaping the global economy.
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