- Brookfield has achieved financial closure for BGTF from institutional investors, having raised $15 billion
- It has raised proceeds from more than 100 investors with Brookfield being the largest of the lot
- The fund is still open to private wealth investors through Brookfield Oaktree Wealth Solutions, it added
Global alternative asset manager Brookfield Asset Management has raised $15 billion from institutional investors for its inaugural impact fund called Brookfield Global Transition Fund (BGTF), claiming it to be the world’s largest private fund to facilitate a net-zero economy.
This is the final institutional close for the oversubscribed fund that has raised proceeds from over 100 investors with Brookfield itself being the largest investor. The list includes public and private pension plans, sovereign wealth funds, insurance companies, endowments and foundations, financial institutions, and family offices.
Of the total raised, BGTF has already deployed around $2.5 billion for decarbonization technologies including acquisition of solar and battery developers in the US and Germany with a combined development pipeline of close to 25 GW, among other investments.
Brookfield said the fund has a robust pipeline of potential investments as businesses and governments seek to meet their decarbonization goals and enhance energy security.
“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,” said Brookfield Vice Chair and Head of Transition Investing Mark Carney.
While it is closed to institutional investors, the fund remains open to a limited number of private wealth investors through Brookfield Oaktree Wealth Solutions.
