Brookfield selected for $1 billion NLF multi-decade mandate

Brookfield Asset Management Ltd. (NYSE: BAM) announced on September 8, 2026, that the Nuclear Liabilities Fund selected it to manage a long-term, multi-asset investment mandate with an initial commitment of $1 billion, approximately £750 million. The announcement is attached as Exhibit 99.1 to its Form 8-K, accession 0001171843-26-005900, under Items 8.01 and 9.01.

A portfolio built around future liabilities

NLF’s obligations are associated with decommissioning eight of the UK’s nuclear power stations. The partnership is structured around that long-term liability profile, with a multi-decade investment horizon.

Brookfield says the purpose is to help NLF earn the returns required to meet future UK nuclear decommissioning costs without unnecessary reliance on taxpayers. That is the company’s stated objective; the announcement does not establish that those costs are already covered.

Several strategies, one mandate

Brookfield’s Investment Solutions Group will manage the mandate. The group is chaired by Oaktree Co-Chairman Howard Marks and led by Alper Daglioglu.

The portfolio will invest globally across Brookfield’s infrastructure, energy, private equity, real estate and private credit strategies. Investments are expected to combine fund commitments, direct investments and co-investments. This gives the mandate several ways to allocate capital across Brookfield’s strategies, rather than tying it to a single investment format.

Reinvestment is central to the design

The portfolio emphasizes reinvesting proceeds into new opportunities over time rather than routinely distributing them, seeking long-term compounding. For an institution facing costs over decades, the useful distinction is between generating cash for immediate distribution and retaining proceeds for future obligations. The mandate’s design connects the investment horizon to the timing of NLF’s liabilities; it does not guarantee that investment returns will match the eventual costs.

For Brookfield, the selection places its Investment Solutions Group in charge of a mandate drawing on several of its investment strategies. The disclosed commitment establishes the initial scale of that assignment, but it is not evidence that all the capital has been invested.

What remains undisclosed

The announcement does not provide fee rates, an expected internal rate of return or a quantified taxpayer saving. It also does not establish that decommissioning is funded or complete.

Item 8.01 records the issuance of the press release, attached as Exhibit 99.1; Item 9.01 provides the exhibit context. This is an investment-management mandate, not an acquisition of NLF.