Brookfield Asset Management has closed its Brookfield Global Transition Fund (BGTF) with $15 billion in capital commitments, making it one of the largest funds raised with a focus on 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 strong industry support for decarbonisation, 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.
BGTF, co-headed by Mark Carney and Connor Teskey, focuses on investments to accelerate the global transition to a net zero economy while delivering strong risk-adjusted returns for investors. The 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.
