Assets Under Management (AUM) exceeded $1 trillion as of December 31, 2025. Fee-Bearing Capital increased by $64 billion, or 12%, to $603 billion in 2025, with 87% being long-dated or perpetual in nature. Total fundraising in 2025 was over $110 billion, including over $10 billion for the second vintage of the global transition fund and the fifth real estate flagship fund, $31.6 billion across the Oaktree franchise, $6.6 billion from other partner managers, $3.3 billion for the fourth vintage of the infrastructure debt fund, and $25.2 billion from Brookfield Wealth Solutions (BWS). Capital deployed across strategies in 2025 totaled $65.6 billion, with $36.3 billion in credit, $10.9 billion in infrastructure, $7.5 billion in real estate, $6.9 billion in renewable power and transition, and $4.0 billion in private equity. Fee Revenues for 2025 were $5.5 billion, a 17% increase compared to 2024. Fee-Related Earnings reached $3.0 billion in 2025, up 22% from 2024. Distributable Earnings for 2025 were $2.7 billion, representing a 14% increase over 2024. Net income attributable to common stockholders was $2.5 billion in 2025, an increase of $317 million from 2024. Uncalled private fund commitments stood at $134 billion as of December 31, 2025, with approximately $63 billion currently not earning fees but expected to generate $630 million in additional Fee Revenues once invested. A quarterly dividend of $0.5025 per share was declared, representing a 15% increase relative to the prior year, payable on March 31, 2026. A proposed transaction to acquire the remaining 26% interest in Oaktree for approximately $3 billion is expected to close in the first half of 2026. Launched a $100 billion global AI Infrastructure program in partnership with NVIDIA and the Kuwait Investment Authority (KIA), anchoring the Brookfield AI Infrastructure Fund (BAIIF) with a target of $10 billion in equity commitments, of which $5 billion has already been received. Announced a $20 billion joint venture with Qai, Qatar's AI company, focused on AI infrastructure in Qatar and select international markets. Completed inaugural offerings of $750 million 5.795% senior notes due 2035, $750 million 6.077% senior notes due 2055, $600 million 4.653% senior notes due 2030, and $400 million 5.298% senior notes due 2036. The revolving credit facility was upsized from $750 million to $1.1 billion. A share repurchase program was approved on January 9, 2026, to purchase up to 36.9 million Class A Shares, representing approximately 10% of the public float.