Brookfield Asset Management (NYSE: BAM, TSX: BAM), a global alternative asset manager, was at last look up more than 3% in U.S. pre-market trading on Wednesday after it reported improved fourth-quarter earnings and raised its dividend by 15% to reflect confidence around its outlook.

BAM reported Q4 fee-related earnings per share of US$0.42 versus $0.36 a year earlier. Quarterly fee-related earnings were up 17% to a record $677 million.

Distributable earnings per share rose to $0.40 from $0.36. Analysts polled by FactSet expected EPS by that measure of $0.39.

Among other highlights, BAM cited over $135 billion of capital inflows and $48 billion of capital deployed in 2024

Connor Teskey, President of Brookfield Asset Management, said, "2024 was another strong year for our business. We raised over $135 billion of capital, including a record $29 billion of organic fundraising in the fourth quarter. This fundraising momentum, alongside annual capital deployments of $48 billion drove year-over-year growth of 18% for our fee-bearing capital, and 17% for our fourth quarter fee-related earnings."

He added, "2025 is shaping up to be yet another record year for us. We have a great foundation in place, with well-positioned, diversified fund offerings in leadership positions across the fastest growing areas in the alternatives space. Driven by the growth in our flagship and complementary funds and credit business, this positive outlook and our strong financial position enabled us to raise our quarterly dividend by 15%. Finally, last week we closed the previously announced transaction between BAM and Brookfield Corporation, and as a result, BAM, with 1.6 billion shares now outstanding, owns the entire asset management business at an equity market capitalization approaching $100 billion."