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Brookfield plans second energy transition fund

Brookfield Asset Management is looking to secure around $20 billion in capital commitments for its latest fund which will focus on investments in the the global transition to clean energy from fossil fuels, according to a report by Bloomberg.

Unnamed Bloomberg sources have confirmed that fundraising for the new fund, Brookfield’s second energy transition investment vehicle, is expected to start by the middle of the year. Depending on investor demand, the fund may eventually raise as much as $25 billion.

Brookfield’s first energy transition fund, the Brookfield Global Transition Fund, which is overseen by former Bank of England Governor Mark Carney and Connor Teskey, chief executive officer of Brookfield Renewable, raised $15 billion.

Brookfield says the new fund will follow the same strategy including investing in businesses that want to decarbonise but lack the capital or operational expertise to do so, as well as focusing on wider investments in wind and solar energy, battery storage, carbon capture and nuclear power. 

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