Brookfield Wealth Solutions, a joint venture between Brookfield and Oaktree, ended the first quarter of 2026 with total assets of $156.1bn (£117.1bn), up from $141.6bn in the previous quarter, despite recording a net loss of $602m during the period.
The firm attributed the net loss, compared to a net loss of $282m in the prior year period, to “unfavourable mark-to-market movements on public equity investment positions”, which it added have since recovered.
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Brookfield Wealth Solutions also reported an increase in distributable operating earnings for the three months ended 31 March 2026, to $438m, up from $437m in the prior year period.
During the quarter, the firm deployed $4bn into Brookfield originated strategies across its investment portfolio, at an average target yield of 10 per cent.
“We have built a scaled and well capitalised insurance platform with a resilient portfolio of $180bn insurance assets today,” said Sachin Shah, chief executive of Brookfield Wealth Solutions. “Our established US platform continues to expand its product and distribution capabilities, and we are now a leader in the UK pension market.”
“We look forward to further growing our international operations over time, with a focus on generating high-quality earnings and durable risk-adjusted returns for our business,” Shah added.
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Meanwhile, global investment firm Brookfield hailed “strong financial results” in the first quarter.
In its asset management business, Brookfield reported distributable earnings of $765m and $2.8bn for the past 12 months, while year-to-date fundraising totalled $67bn, including $21bn raised in the first quarter, which it said reflected “strong demand from our institutional clients”.
Fee-bearing capital rose by 12 per cent to $614bn, driving an 11 per cent increase in fee-related earnings compared to the prior year quarter.
According to Brookfield, capital markets remain constructive, “with strong liquidity for high-quality, cash-flowing assets, including real estate, where financing activity continues to recover robustly”.
“We started the year strong, with good growth in asset management, continued scaling of wealth solutions, and stable cash flows in our operating businesses,” said Nick Goodman, president of Brookfield Corporation.
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