발화자 미상
Operator: Good day, and thank you for standing by. Welcome to the Brookfield Asset Management Second Quarter 2026 Conference Call and Webcast. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Jason Fooks, Investor Relations. Please go ahead.
Jason Fooks: Thank you for joining us today for Brookfield Asset Management's Second Quarter 2026 Earnings Call. On the call today, we have Connor Teskey, our Chief Executive Officer; Hadley Peer Marshall, our Chief Financial Officer; and joining us this quarter, Sikander Rashid, our Global Head of AI Infrastructure and Head of Europe. Before we begin, I'd like to remind you that in today's comments, including in responding to questions and in discussing new initiatives and our financial and operating performance, we may make forward-looking statements, including forward-looking statements in the meaning of applicable U.S. and Canadian securities law. These statements reflect predictions of future events and trends and do not relate to historic events. They are subject to known and unknown risks, and future events and results may differ materially from such statements. For further information on these risks and their potential impacts on our company, please see our filings with the securities regulators in the U.S. and Canada and the information available on our website. Connor will begin with an overview of the quarter, including our record fundraising and strategic partnerships that continue to strengthen our platform. Sikander will discuss our AI infrastructure strategy in greater detail, including the differentiated position we've built, our growing momentum and the opportunity ahead. And Hadley will review our financial and operating results and our balance sheet. After our formal remarks, we'll open the line for questions. [Operator Instructions] With that, I'll turn the call over to Connor.
Connor David Teskey: Thank you, Jason, and good morning, everyone. Similar to last quarter, we expect 2026 will be a record year for Brookfield and not by a small margin. Reinforcing this, the second quarter was exceptional by almost any measure, record fundraising with both earnings and fee-bearing capital growing well ahead of our long-term targets. It sets us up well for what we expect to be a record year across the board. Fee-related earnings for the quarter were $808 million, up 20% from the prior year. Distributable earnings were $707 million, up 15%, and fee-bearing capital reached $672 billion, up 19% over the last 12 months. Perhaps most importantly, the quarter delivered $77 billion of fundraising. Our strongest fundraising quarter ever and was led by 2 of our flagship strategies and the $40 billion Just Group mandate. This mandate increases the insurance capital we manage by more than 1/3 and further extends our reach into retirement. It also reinforces our differentiated insurance model. Brookfield …
