New York, October 2025 — Brookfield Asset Management has closed its second flagship energy transition vehicle, raising $20 billion in what is now the largest private fund ever dedicated to clean energy investment. The fund, known as the Brookfield Global Transition Fund II (BGTF II), surpassed its predecessor’s $15 billion close and reflects surging investor appetite for large-scale decarbonization projects.
Investor Backing and Scale
The fund attracted commitments from a broad base of institutional investors worldwide. Anchor contributions included $2 billion from Abu Dhabi’s climate investment platform ALTÉRRA and $1.5 billion from Norway’s sovereign wealth fund, Norges Bank Investment Management. In addition, Brookfield secured $3.5 billion in co-investment capital, bringing the total pool of deployable funds to $23.5 billion.
Deployment and Strategy
Brookfield has already deployed more than $5 billion from BGTF II into projects such as:
- Neoen, a leading renewable power and battery storage operator.
- Geronimo Power, a U.S.-based energy developer with a large pipeline.
- Evren, a joint venture in India targeting over 10 GW of wind, solar, and storage capacity.
The strategy focuses on three pillars: expanding renewable generation, transforming carbon-intensive industries, and accelerating sustainable solutions across global markets.
Rising Demand for Clean Power
Brookfield executives highlighted the surge in global energy demand, driven by the growth of artificial intelligence data centers, industrial electrification, and transport decarbonization. “Our strategy will succeed by investing in technologies that deliver clean, abundant, and low-cost energy solutions underpinning the global economy,” said Connor Teskey, President of Brookfield Asset Management and CEO for Renewable Power & Transition.
Outlook
The record-breaking close underscores how capital markets are aligning with the energy transition, even amid volatile policy environments. With renewables surpassing coal as the world’s largest source of electricity in 2025, Brookfield’s fund positions itself at the center of a rapidly accelerating shift toward low-carbon infrastructure.
Sources: esgnews.com
