v3.26.1
CORPORATE BORROWINGS (Tables)
 3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt Instruments
BAM has the following debt obligations outstanding:
AS OF MARCH 31, AND DECEMBER 31,
(MILLIONS)
20262025Remaining Maturity
Carrying ValueFair ValueCarrying ValueFair Value
Senior unsecured notes(a)
4.653%, Due 11/15/2030
$600 $595 $600 $605 55 months
5.795%, Due 4/24/2035
750 764 750 786 110 months
5.298%, Due 1/15/2036
400 391 400 400 118 months
6.077%, Due 9/15/2055
750 744 750 769 354 months
Deferred financing costs(22)(22)(22)(22)N/A
Total corporate borrowings$2,478 $2,472 $2,478 $2,538 
(a) All or a portion of the senior unsecured notes may be redeemed at BAM's option in whole or in part, at any time and from time to time, prior to the stated maturity, at the redemption price set forth in the agreement. If a change of control triggering event occurs, subject to certain conditions, BAM will be required to make an offer to repurchase all outstanding senior unsecured notes in cash equal to 101% of the principal amount plus accrued and unpaid interest up to the date of, but not including, the date of repurchase.
Fair value is determined by broker quote and these notes would be classified as level II within the fair value hierarchy.
Borrowings of Consolidated Funds
Certain consolidated funds also maintain revolving credit facilities that are secured by the limited partner commitments of the respective fund. The consolidated funds of BAM have the following borrowings:
AS OF MARCH 31, AND DECEMBER 31,
(MILLIONS)
2026
2025
Facility CapacityWeighted Average Interest RateWeighted Average Remaining MaturityCommitment fee rate
Consolidated funds
Revolving credit facilities$451 $462 $525 
5.6%
8 months
0.3% - 0.4%
Total borrowings of consolidated funds$451 $462 
Schedule of Maturities of Long-Term Debt
Scheduled principal payments for borrowings as of March 31, 2026 were as follows:
AS OF MARCH 31, 2026
(MILLIONS)
Corporate BorrowingsBorrowings of Consolidated FundsTotal Borrowings
2026$— $451 $451 
2027— — — 
2028— — — 
2029— — — 
2030600 — 600 
Thereafter1,900 — 1,900 
Total$2,500 $451 $2,951