Episode Details
Back to EpisodesBrookfield (BN) earnings: $11.6B in shadow revenue and the BNT merger
Published 5 months, 2 weeks ago
Description
Brookfield is defying the commercial real estate crisis while finally collapsing its complex structure to unlock hidden value.
In ~10 minutes:
- Revenue +6.6% to $20.2B, Distributable Earnings up 12%.
- Why the insurance spin-off (BNT) is getting merged back in.
- Real estate defiance: 27M sq ft leased and a 10x oversubscribed refi.
- The "shadow revenue" pot: $11.6B in unrealized carried interest.
- Fee-bearing capital crosses the $600B mark. 🏗️
Susie and Miro discuss whether the "conglomerate discount" is finally ending and if the Wealth segment's aggressive push into Japan can keep the cash machine running.
Brookfield Corporation (BN) | Q4 FY2025
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