Brookfield Has $90 Billion for Deals After Fundraising Boom (1)

Brookfield Asset Management Ltd.’s earnings rose in the fourth quarter as it wrapped up a record year of fundraising that has given the firm more than $90 billion to invest.

The Canadian alternative asset manager reported distributable earnings of $569 million, or 35 cents a share, up 6% from the prior year. It’s the first quarterly report for Brookfield Asset as a public company after it was spun out of parent Brookfield Corp. in December.

Brookfield rose 1% to $34.29 at 11:50 a.m. in New York.

The company raised a record $93 billion in capital last year. “Our fundraising ...