The asset management giant raised most of the new capital—US$14 billion—through its credit business in its latest quarter. Net income for the period ending Sept. 30 increased about 10 per cent from last year to US$544 million. (The Logic)

Talking point: The private credit market has grown substantially over the past few years, with lenders cashing in on higher interest rates. Blackstone, for instance, said last month that its credit arm had become its biggest business. The business has helped asset managers offset weaker results in their real estate portfolios since the pandemic. While declining interest rates may start putting strain on private credit, Brookfield CEO Bruce Flatt and president Connor Teskey told investors on a conference call Monday that they expect the cuts to spur more deal activity and liquidity for investors.