Brookfield Asset Management (BAM) posted an in-line Q3 but set a strong tone with record fundraising of about $30 billion, RBC Capital Markets said in a note Monday.

RBC highlighted BAM's $581 billion of fee-bearing capital and roughly $125 billion of uncalled fund commitments, calling the firm "well-positioned to capitalize on market dislocations."

The brokerage said momentum across private credit, infrastructure, and private equity supports faster fee-related earnings growth and could keep BAM on track toward its long-term fee-bearing capital targets.

"We believe BAM's leading position within the alternatives sector... supports a favorable growth outlook," the firm said.

RBC reiterated its outperform rating on Brookfield and maintained the $76 price target.

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