07:44 AM EST, 11/04/2024 (MT Newswires) -- Brookfield Asset Management ( BAM ) on Monday reported higher net income for the third quarter.

Net income attributable to the company rose to US$544 million, or US$0.33 per share, from US$494 million or US$0.30 per share, last year.

Fee-related earnings of US$644 million was a 14% jump.

"We delivered record results in the third quarter, driven by the substantial increase in fee-bearing capital due to strong fundraising, deployment and additional strategic partnerships over the past year. This resulted in 14% year-over-year growth in fee-related earnings, while fee-bearing capital increased by 23% to $539 billion," Connor Teskey, President of Brookfield Asset Management ( BAM ), said.

Brookfield will pay a quarterly dividend of US$0.38 per share on Dec. 31.

Brookfield is down US$0.37, to US$52.82, in U.S. premarket trade.