The so-called Catalytic Transition Fund will invest in clean energy and transition assets in emerging markets. Toronto-based Brookfield Asset Management has raised about half its US$5-billion target for the fund, with backing from Caisse de dépôt et placement du Québec, Singapore sovereign-wealth fund GIC, Prudential and Temasek Holdings. (The Logic)

Talking point: Brookfield introduced the fund at last year’s COP28 climate conference in Dubai, with a US$1-billion commitment from United Arab Emirates investment firm Altérra. It’s the latest investment in the climate transition for a firm that says it already has US$100 billion in assets under management in sectors such as hydro, wind and solar power. In a press release on Monday, Mark Carney, Brookfield’s chair and head of transition investing, said the involvement of major new backers in the fund “underscores the unique combination of the major commercial opportunity and the climate imperative.”