The firm reported first-quarter net income of US$617 million, up about six per cent from US$581 million the same period last year. Distributable earnings—a measure of cash earnings that could be paid to shareholders—reached US$702 million, up seven per cent from a year earlier. Brookfield also raised US$21 billion in the first quarter, and US$67 billion since January, putting it on track for a record year. (The Logic)

Talking point: The results show strong investor appetite for private markets, despite fears around private credit and economic volatility. New CEO Connor Tesky told investors on a call Friday that the firm has limited exposure to software, which has been particularly hard-hit, including by cracks in the private credit market. “Our leading positions in infrastructure, energy, real estate and essential services-focused private equity are well-suited to this environment,” he said in a statement.