v3.25.4
VARIABLE INTEREST ENTITIES (Tables)
12 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Variable Interest Entities
AS AT DECEMBER 31,
(MILLIONS)
20252024
Cash and cash equivalents$— $— 
Investments411 1,083 
Investments of consolidated funds505 251 
Other assets— — 
Total Assets$916 $1,334 
Borrowings of consolidated funds$462 $251 
Other liabilities— — 
Total Liabilities$462 $251 
The assets and liabilities recognized in the Company's consolidated balance sheets related to its maximum exposure to loss of those VIEs of which the Company is determined not to be the primary beneficiary, the non-consolidated VIEs, are as follows:
AS AT DECEMBER 31,
(MILLIONS)
20252024
Investments$1,130 $1,472 
Due from affiliates4 9 
VIE related assets1,134 1,481 
Maximum exposure to loss$1,134 $1,481