REVENUE (Tables)

12 Months Ended

Dec. 31, 2025

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following table sets out revenue disaggregated by investment strategy and geography.


FOR THE YEAR ENDED DECEMBER 31, 2025 (MILLIONS)						Renewable power and transition						Infrastructure						Private equity						Real estate						Credit						Total
Base management and advisory fees
United States						$	111					$	142					$	90					$	574					$	311					$	1,228
United Kingdom						229						227						88						302						16						862
Canada						203						400						73						23						80						779
Other						164						202						46						87						16						515
Incentive fees						145						320						95						—						—						560
						$	852					$	1,291					$	392					$	986					$	423					$	3,944


FOR THE YEAR ENDED DECEMBER 31, 2024 (MILLIONS)						Renewable power and transition						Infrastructure						Private equity						Real estate						Credit						Total
Base management and advisory fees
United States						$	105					$	204					$	120					$	558					$	214					$	1,201
United Kingdom						163						189						83						252						—						687
Canada						172						374						71						23						25						665
Other						105						171						48						80						—						404
Incentive fees						129						295						—						—						—						424
						$	674					$	1,233					$	322					$	913					$	239					$	3,381


FOR THE YEAR ENDED DECEMBER 31, 2023 (MILLIONS)						Renewable power and transition						Infrastructure						Private equity						Real estate						Credit						Total
Base management and advisory fees
United States						$	103					$	190					$	104					$	556					$	126					$	1,079
United Kingdom						151						200						45						174						—						570
Canada						176						422						104						44						12						758
Other						71						140						70						78						—						359
Incentive fees						111						265						—						—						—						376
						$	612					$	1,217					$	323					$	852					$	138					$	3,142