Brookfield Asset Management cash flow more than doubles in Q4

Fri Feb 14, 2014 10:22am EST
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TORONTO Feb 14 (Reuters) - Brookfield Asset Management Inc's funds from operation (FFO), a measure of cash flow for real estate management companies, more than doubled in the fourth quarter as investor hunger for real assets boosted fees and assets under management.

FFO rose to $1.03 billion, or $1.59 per share, from $459 million, or 67 cents per share, a year earlier, mostly due to carried interest on private funds received during the quarter.

The Canadian property, power and infrastructure investor said on Friday its consolidated net income rose 9 percent to $850 million, or $1.08 per share.