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Alternative Market Briefing

Brookfield raises mammoth $15bn for maiden energy transition fund

Thursday, June 23, 2022

Laxman Pai, Opalesque Asia:

Brookfield Asset Management has raised USD 15 billion for its Brookfield Global Transition Fund (BGTF), the global alternative asset manager's inaugural fund focused on investment opportunities relating to reducing greenhouse gas emissions and energy consumption.

A press release from the Canadian asset management firm with $725 billion of assets under management BGTF makes the fund the world's largest private fund dedicated to facilitating the global transition to a net-zero carbon economy.

The fund saw strong investor demand and was oversubscribed above the initial hard cap of USD 12.5 billion. The USD-15-billion amount includes investments from institutional investors in and alongside the fund, and also amounts reserved for the private wealth channel, Brookfield said.

"A diverse group of more than 100 investors from around the world committed to the Fund, including public and private pension plans, sovereign wealth funds, insurance companies, endowments and foundations, financial institutions, and family offices. Brookfield is the largest investor in the Fund, underscoring the firm's longstanding alignment of interests with those of its investors," the release said.

The Ontario Teachers' Pension Plan Board, Toronto, and Temasek Holdings, Singapore's state investment arm, were founding investors in the fund. Investors in the fund also include New York State Common Retirement Fund, Albany; New Jersey Pension Fund, Trenton; Pennsylv......................

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