It reported third-quarter net income of US$724 million, up from US$544 million in the same period last year, after raising a record US$30 billion in new funding. (The Logic)

Talking point:  Brookfield Asset Management changed its strategy over the past two years, expanding past fundraising from large institutions and targeting more small and medium institutions and family offices, executives said on an earnings call. The company’s new private equity fund, which can be used by individual retail investors, is expanding to the U.S. after launching in Canada last month. Meanwhile, the firm, which moved its headquarters from Toronto to New York last year, is setting up a fund to invest in data centres, president Connor Teskey said. CEO Bruce Flatt told analysts that the company is being disciplined in avoiding certain pockets of the credit market, amid global concerns about troubled lenders like Tricolor Holdings.