Brookfield Raises Massive $15 Billion for Global Net Zero Transition Strategy

Posted on 06/22/2022

Brookfield Asset Management reached the final institutional close for the Brookfield Global Transition Fund with total capital raised of US$ 15 billion, making it the world’s largest private fund dedicated to facilitating the global transition to a net-zero carbon economy. The $15 billion includes investments from institutional investors in and alongside the Fund, as well as amounts reserved for the private wealth channel. Highlighting industry support for decarbonization, demand for the Fund significantly exceeded its initial hard cap, and the final fund size was oversubscribed. A diverse group of more than 100 investors from around the world committed to the Fund, including public and private pension plans, sovereign wealth funds, insurance companies, endowments and foundations, financial institutions, and family offices. Brookfield is the largest investor in the Fund, underscoring the firm’s longstanding alignment of interests with those of its investors. While the Fund is now closed to institutional investors, it remains open to a limited number of private wealth investors through Brookfield Oaktree Wealth Solutions.

BGTF, co-headed by Mark Carney (former Governor of both the Bank of England and Bank of Canada) and Connor Teskey, focuses on investments to accelerate the global transition to a net zero economy. Brookfield Global Transition Fund invests in the transformation of carbon-intensive industries, as well as the development and accessibility of clean energy sources, leveraging Brookfield’s leadership in renewable power.

Approximately $2.5 billion has been deployed or allocated from the Fund to date, spanning a range of decarbonization technologies with investments at significant scale. These include:

The acquisition of U.S. and German solar power and battery developers, with a combined renewable power development pipeline capacity of approximately 25,000 MW;

An investment in a carbon capture and storage developer to fund the rollout of the company’s critical technology across energy and industrial facilities in North America; and

A development partnership with a U.K. battery storage provider to roll out up to 1,200 MW of capacity alongside 200 MW of co-located solar.

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