Brookfield Asset Management Raises $10b for Global Transition Fund

Brookfield Asset Management has successfully secured $10 billion in the initial close of its Brookfield Global Transition Fund II (BGTF II), signaling strong investor confidence in accelerating the shift towards a net-zero economy. Launched last year, BGTF II aims to surpass its predecessor, BGTF, which closed at a record-breaking $15 billion in June 2022, establishing itself as the largest private fund dedicated to investments in the net-zero economy.

The firm attributes the robust fundraise to the growing momentum in transition opportunities worldwide, reflecting a broader trend among major investors targeting decarbonization and energy transition initiatives. This announcement follows recent significant moves in the industry, including BlackRock's $12.5 billion acquisition of infrastructure investor Global Infrastructure Partners in January and General Atlantic's subsequent acquisition of sustainable infrastructure investor Actis. Brookfield's strategic focus on capitalizing on these emerging opportunities underscores its commitment to driving sustainable investment practices and addressing climate change challenges.