The asset management giant raised capital from a group of global investors, including US$2 billion from Altérra, an investment firm launched by the United Arab Emirates, and US$1.5 billion from Norway’s Norges Bank Investment Management. It’s the largest private fund dedicated to the clean-energy transition, according to Brookfield, surpassing the firm’s US$15-billion predecessor. (The Logic)
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The asset management giant raised capital from a group of global investors, including US$2 billion from Altérra, an investment firm launched by the United Arab Emirates, and US$1.5 billion from Norway’s Norges Bank Investment Management. It’s the largest private fund dedicated to the clean-energy transition, according to Brookfield, surpassing the firm’s US$15-billion predecessor. (The Logic)
Talking point: The fund is targeting investments in projects with long timelines, including nuclear energy and carbon capture and storage. Brookfield said it exceeded its fundraising target, benefitting from the surge in energy demand to power AI, and electrifying industry and transportation. “Against this backdrop, we need an any-and-all-approach to energy investment that will continue to favour low carbon resources,” Brookfield president Connor Teskey said in a press release. The transition fund has invested US$5 billion so far.
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