Brookfield Asset Management has raised USD20 billion, the final close of its Brookfield Global Transition Fund II, in capital commitments to accelerate the energy transition globally.
The fund will support a diversified portfolio of wind, solar, battery storage, carbon capture, and other clean technologies, including more than 10 GW of renewable energy and storage projects in India through its joint venture, Evren. The fund has exceeded its initial fundraising target and includes contributions from global institutional investors, with USD2 billion committed by ALTÉRRA and USD1.5 billion from Norges Bank Investment Management. An additional USD3.5 billion in co-investment capital has been secured, taking the total capital raised under this strategy to USD23.5 billion.