Brookfield Asset Management has named Connor Teskey as chief executive officer, marking the final stage of Bruce Flatt’s succession plan at one of the world’s largest alternative asset managers.

Teskey takes charge of the $1trn platform as Flatt shifts his focus to Brookfield Corp., where he is pursuing a strategy to build an investment-led insurance business. Flatt will continue as chair of Brookfield Asset Management.

The leadership transition comes as Brookfield steps up fundraising across private markets. The firm raised $112bn over the past year, lifting fee-bearing capital to $603bn. Credit strategies accounted for about 65% of inflows, while infrastructure fundraising included $7bn, much of it linked to the group’s AI infrastructure initiatives.

“Today’s announcement is the next step in the succession process we started four years ago. This will set up our next generation of leaders who will guide the company in the coming decades,” said Flatt in a statement.

Commenting on the 2025 results, Teskey said, “2025 was another record year for our business— across each of fundraising, deployment, and monetizations. […] Looking ahead, we will have key flagship strategies in the market and a growing suite of complementary offerings, positioning us to drive sustained growth across multiple channels. This confidence supports our decision to increase our dividend by 15%.”

The group has also positioned itself to benefit from rising retail and insurance demand for private assets, a trend reshaping capital formation across the private equity industry.

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