BAM's accelerating fundraising ($67B YTD vs $112B in all of 2025) and the Just Group mandate signal strong forward fee revenue growth. The Oaktree close and flagship fund closes in H1 2026 are catalysts. Monitor Q2 for the full Just Group fee contribution and infrastructure/PE flagship first closes.
Price Chart
Executive Summary
BAM reported Q1 2026 fee-related earnings of $772M (up 11% YoY) and distributable earnings of $0.43/share, beating the $0.42 consensus. Fundraising of $21B in the quarter and $67B YTD, including the Just Group mandate adding $40B in fee-bearing capital, supports continued growth momentum. The company also accelerated share repurchases ($575M YTD) and maintained its $0.5025 quarterly dividend.
Key Financial Metrics
Key Facts
- Q1 2026 FRE of $772M, up 11% YoY from $698M
- Q1 2026 DE of $702M ($0.43/share), up 7% YoY from $654M ($0.40/share)
- LTM FRE of $3.07B, up 18% YoY; LTM DE of $2.74B, up 11% YoY
- Fee-bearing capital grew to $614B, up 12% YoY
- Quarterly fundraising of $21B; $67B YTD including Just Group mandate
- Just Group mandate adds $40B in insurance fee-bearing capital, ~$100M annual base fee revenue
- Deployed or committed $34B in the quarter; monetized $8B
- Accelerated share repurchases: $375M in Q1, $575M YTD including post-quarter
- Quarterly dividend maintained at $0.5025/share
- Oaktree acquisition expected to close H1 2026, adding FRE and carried interest
Financial Impact
FRE grew 11% YoY to $772M; DE grew 7% to $702M; LTM FRE up 18% to $3.07B
Risk Factors
- Market volatility could slow deployment and monetization pace
- Oaktree acquisition integration risk and regulatory approvals
- Interest rate sensitivity on credit and insurance businesses
- Dependence on continued strong fundraising environment
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001171843-26-003183 |
| Document: f8k_050826.htm | 0001171843-26-003183 |
| Document: 0001171843-26-003183-index-headers.html | 0001171843-26-003183 |
| Document: 0001171843-26-003183-index.html | 0001171843-26-003183 |
| Document: 0001171843-26-003183.txt | 0001171843-26-003183 |
| 8-K Data (Synthetic) | 0001171843-26-003183 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 15, 2026 16d ago | Press Release | $45.18 $45.26 | ▲ +0.18% | ▼ −2.39% | $44.83 (−0.77%) |
Sep 14, 2026 18d ago | 8-K | $46.63 $46.22 | ▼ −0.88% | ▼ −0.99% | $44.83 (−3.86%) |
Aug 14, 2026 6w ago | 8-K | $52.57 $52.31 | ▼ −0.49% | ▲ +0.70% | $44.83 (−14.72%) |
Aug 9, 2026 7w ago | Institutional Cluster | $52.84 $52.57 | ▼ −0.51% | ▼ −0.46% | $44.83 (−15.16%) |
Aug 5, 2026 8w ago | Press Release | $52.63 $54.50 | ▲ +3.55% | ▲ +3.20% | $44.83 (−14.82%) |
Aug 3, 2026 8w ago | 8-K | $50.69 $52.84 | ▲ +4.24% | ▲ +2.21% | $44.83 (−11.56%) |
Jul 27, 2026 9w ago | 8-K | $47.56 $48.40 | ▲ +1.77% | ▲ +0.69% | $44.83 (−5.74%) |
Jul 22, 2026 10w ago | Press Release | $45.71 $47.96 | ▲ +4.92% | ▲ +4.45% | $44.83 (−1.93%) |
Jul 6, 2026 12w ago | 8-K | $46.57 $47.52 | ▲ +2.04% | ▲ +1.49% | $44.83 (−3.74%) |
Jul 6, 2026 12w ago | Press Release | $47.00 $46.72 | ▲ +0.60% | ▲ +1.08% | $44.83 (+4.62%) |
US Market Status
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