Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials HomeFinanceBrookfield Corp.’s asset manager, wealth unit boost profitsLast month, Brookfield’s shareholders approved the simplification of its capital structureAuthor of the article:Last updated 1 hour ago You can save this article by registering for free here. Or sign-in if you have an account.Brookfield doesn’t view the recent turmoil in the credit markets as a systemic problem and considers it a healthy adjustment following a period of abundant capital. Photo by Yuki Iwamura/BloombergBrookfield Corp.’s profit rose in the second quarter as earnings from asset management and wealth businesses increased.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorDistributable earnings climbed almost 14 per cent to US$1.4 billion, or 61 cents a share, excluding gains on asset sales, according to a statement Thursday.Profits from asset management were up about 14 per cent to US$740 million, while those from its wealth business, which includes insurance, rose 23 per cent to US$480 million.Since the start of the year, the money manager has expanded its insurance arm through the acquisition of Just Group in the United Kingdom and the purchase of the remaining shares of Oaktree Capital Management.Breaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Posthaste will soon be in your inbox.We encountered an issue signing you up. Please try again“These initiatives set us up for our next phase of growth, and with over US$200 billion of deployable capital we are well positioned to invest at scale in the opportunities ahead,” president Nick Goodman said in the statement.Last month, Brookfield’s shareholders approved the simplification of its capital structure, which combines the parent company and the insurance business. The arrangement will also “strengthen our eligibility for inclusion in major United States and global equity indices,” chief executive Bruce Flatt said in a letter to investors.Brookfield doesn’t view the recent turmoil in the credit markets as a systemic problem and considers it a healthy adjustment following a period of abundant capital, which led to loose underwriting standards in parts of the market, Flatt said in the letter. He added that periods of dislocation have historically created opportunities for Oaktree. Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.