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Brookfield Raises Record $15 Billion For Global Transition Fund

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Brookfield announced that it has reached the final institutional close for the Brookfield Global Transition Fund (BGTF) with total capital raised of $15 billion, making it the world’s largest private fund dedicated to facilitating the global transition to a net-zero carbon economy.

Pixon

The $15 billion includes investments from institutional investors in and alongside the Fund, as well as amounts reserved for the private wealth channel.

A diverse group of more than 100 investors from around the world committed to the Fund.  Brookfield is the largest investor in the Fund, underscoring the firm’s longstanding alignment of interests with those of its 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.

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

These include:

  1. 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.
  2. 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.
  3. 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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The Fund also has a robust pipeline of potential investments that reflects increasing demand from businesses and governments to meet their decarbonization goals and enhance energy security.

Mark Carney, Brookfield Vice Chair and Head of Transition Investing, said “With the global carbon budget being rapidly run down, now is the time for comprehensive, determined action. That means deploying capital across the economic spectrum from scaling clean energy generation, to transforming traditional utilities and to providing sustainable solutions for heavy industries like steel and cement. This Fund provides significant scale of capital with catalytic long-term investment the world needs to help put our planet on a sustainable net-zero pathway.”

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