# Brookfield Asset Management **Brookfield Asset Management** (BAM) is the Toronto- and New York-based alternative-asset manager, with more than **$1 trillion** under management in real estate, infrastructure, renewable power, private equity and credit. **Connor Teskey** became CEO on February 4, 2026, succeeding Bruce Flatt, who remains chair and runs the parent, Brookfield Corporation. Brookfield turns up in the vault at three points: a rescue of the Kushner family, the build-out of AI infrastructure, and the career of Canada's prime minister. ## 666 Fifth Avenue In 2018 Brookfield took a **99-year lease** on [[Kushner Companies]]' troubled Manhattan tower, which Kushner had bought in 2007 for $1.8B and which had a $1.2B mortgage due in February 2019. It reportedly paid about **$1.1B upfront**; other reports give up to $700M of equity or a $1.3B total. The Qatar Investment Authority then held about 9% of Brookfield Property Partners, which raised the question of whether Qatari money had bailed out the son-in-law of a sitting president. The QIA said it had "absolutely no involvement." Sen. Ron Wyden and Rep. Joaquín Castro investigated. See [[Jared Kushner]] and [[Qatari Influence]]. ## AI infrastructure - **Bloom Energy:** a $5B partnership (October 13, 2025) making [[Bloom Energy]] its preferred on-site fuel-cell power supplier for data centers. - **The $100B program:** launched November 19, 2025 with [[Nvidia]] and the Kuwait Investment Authority, anchored by a Brookfield AI infrastructure fund targeting $10B in equity. - **Westinghouse:** Brookfield and Cameco have owned the reactor maker since 2023. Their October 28, 2025 agreement with the U.S. government covers at least $80B of new reactors. The government gets 20% of cash distributions above $17.5B, and can force an IPO and take a warrant if the company is valued at $30B or more by 2029. - **OpenAI:** Brookfield is one of three co-lead founding partners, alongside Advent and Bain Capital, behind lead partner TPG, in the OpenAI Deployment Company, committing $500M. See [[OpenAI Deployment Company JV]]. ## Mark Carney [[Mark Carney]] chaired Brookfield Asset Management and ran its transition-investing business until mid-January 2025, when he left to run for the Liberal leadership and became prime minister. He held about 41,000 deferred share units and 303,049 options. The board approved moving the headquarters to New York in October 2024, while he was chair; he says the formal decision came after he left. He put his assets in a blind trust behind an ethics screen. A Canadian prime minister came straight from the firm now building American AI and nuclear infrastructure on terms set by the Trump administration. ## See Also - [[Kushner Companies]] · [[Jared Kushner]] · [[Qatari Influence]] · [[Mark Carney]] - [[OpenAI Deployment Company JV]] · [[Bloom Energy]] · [[Nvidia]] · [[Private Equity Sector]]