Corporate investments consisted of the following:


	As of
Corporate Investments	March 31, 2026		December 31, 2025

Equity-method investments:
Funds	$	317,275	$	315,801
Companies	1,120,915		1,114,972

Total corporate investments	$	1,438,190	$	1,430,773

The Company’s equity-method investments include its investments in funds and companies that are not consolidated, but for which the Company is deemed to have significant influence. The Company’s share of income or loss generated by these investments is recorded within investment income in the condensed consolidated statements of operations. The Company’s equity-method investments in Oaktree funds principally reflect the Company’s general partner interests in those funds, which typically do not exceed 2.5% in each fund. The Oaktree funds are investment companies that follow a specialized basis of accounting established by GAAP. In connection with the 2024 Restructuring, the Company determined that it is no longer the primary beneficiary of Oaktree Capital I and deconsolidated the entity, which is accounted for as an equity method investment beginning with the third quarter of 2024.

On June 27, 2023, the Company entered into a contribution agreement with Brookfield Corporate Treasury Ltd. and acquired the equity ownership in certain entities which beneficially own shares in Brookfield Real Estate Income Trust. The Company accounted for the acquired interests as equity method investments with fair value election. The fair value option has been elected to simplify the accounting for the investment in OCG NTR Holdings, LLC, a wholly owned subsidiary of the Company (“NTR”). Changes in the fair value and cash dividends received from the investment in NTR are included in investment income. During the three months ended March 31, 2026 and 2025, the Company recognized an equity investment gain of $5.0 million and an equity investment loss of $7.9 million, respectively. Please refer to note 14 for the detailed description of the transaction.

Each reporting period, the Company evaluates each of its equity-method investments to determine if any are considered significant, as defined by the SEC. As of March 31, 2026, or for the three months ended March 31, 2026, the Company determined Oaktree Capital I met the significance criteria. No other individual equity method investment met the significance criteria.

Summarized financial information of Oaktree Capital I is set forth below.


	Three months ended March 31,
Statements of Operations		2026		2025
Revenues / investment income		$	72,719	$	48,907
Interest expense		(14,364)		(9,792)
Other expenses		(19,863)		(18,087)
Net realized and unrealized gain on investments		(41,532)		(8,405)
Net (loss) income		$	(3,040)	$	12,623


	Three months ended March 31,
Statements of Operations		2026		2025
Revenues / investment income		$	42,286	$	42,434
Interest expense		(14,008)		(14,525)
Other expenses		(34,151)		(31,700)
Net realized and unrealized gain on investments		5,360		10,129
Net (loss) income		$	(513)	$	6,338

Investments held and securities sold short by the consolidated funds are summarized below:


	Fair Value as of				Fair Value as a Percentage of Investments of Consolidated Funds as of
Investments	March 31, 2026		December 31, 2025		March 31, 2026		December 31, 2025
United States:













Debt securities (cost:$1,522,299 and $1,410,932 as of March 31, 2026 and December 31, 2025, respectively)	$	1,310,776	$	1,245,636	24.4	%	24.9	%












Equity securities (cost: $1,868,648 and $1,658,791 as of March 31, 2026 and December 31, 2025, respectively)	2,359,758		2,058,375		43.9		41.1



Real estate securities (cost: $81,640 and $81,097 as of March 31, 2026 and December 31, 2025, respectively)	84,206		85,059		1.6		1.7




Europe:













Debt securities (cost: $281,012 and $220,047 as of March 31, 2026 and December 31, 2025, respectively)	286,233	218,618	5.3	4.4









Equity securities (cost: $315,243 and $332,655 as of March 31, 2026 and December 31, 2025, respectively)	452,135	442,853	8.4	8.8



Real estate securities (cost: $248,076 and $248,112 as of March 31, 2026 and December 31, 2025, respectively)	262,939	267,481	4.9	5.3
Asia and other:














Debt securities (cost: $551,832 and $556,028 as of March 31, 2026 and December 31, 2025, respectively)	556,587	568,395	10.4	11.3















Equity securities (cost: $47,458 and $111,335 as of March 31, 2026 and December 31, 2025, respectively)	58,059		126,560		1.1		2.5

Total debt securities	2,153,596		2,032,649		40.1		40.6
Total equity securities	2,869,952		2,627,788		53.4		52.4
Total real estate	347,145		352,540		6.5		7.0
Total investments, at fair value	$	5,370,693	$	5,012,977	100.0	%	100.0	%

Net gains (losses) from investment activities in the condensed consolidated statements of operations consist primarily of realized and unrealized gains and losses on the consolidated funds’ investments (including foreign exchange gains and losses attributable to foreign-denominated investments and related activities) and other financial instruments. Unrealized gains or losses result from changes in the fair value of these investments and other financial instruments. Upon disposition of an investment, unrealized gains or losses are reversed and an offsetting realized gain or loss is recognized in the current period.

The following table summarizes net gains (losses) from investment activities:


	Three months ended March 31,
	2026				2025
	Net Realized Gain (Loss) on Investments		Net Change in Unrealized Appreciation (Depreciation) on Investments		Net Realized Gain (Loss) on Investments		Net Change in Unrealized Appreciation (Depreciation) on Investments

Investments and other financial instruments	$	(25,906)	$	61,884	$	68,510	$	(101,214)

Foreign-currency forward contracts (1)	671		20,717		5,455		(25,471)
Total return and interest rate swaps (1)	453		(1,293)		(627)		716
Options and futures (1)	787		169		1,239		(1,880)


Total	$	(23,995)	$	81,477	$	74,577	$	(127,849)