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Brookfield Secures USD 20 Billion for Second Global Transition Fund to Boost Clean Energy Investments

Brookfield Asset Management has announced the successful close of its second Global Transition Fund (BGTF II), raising USD 20 billion in commitments to accelerate investments across the global clean energy transition.

According to Brookfield, BGTF II has surpassed both its fundraising target and the record set by its predecessor, making it the world’s largest private fund dedicated to advancing the energy transition. The fund attracted a wide spectrum of institutional investors, including both long-standing partners and new participants in Brookfield’s transition platform.

Among the major commitments were USD 2 billion from ALTÉRRA and USD 1.5 billion from Norges Bank Investment Management. In addition, the fund has secured around USD 3.5 billion in co-investments, bringing the total capital raised across this investment strategy to approximately USD 23.5 billion.

Brookfield noted that it has already deployed over USD 5 billion from the fund into a range of high-quality energy transition assets. These include the acquisition of Neoen, a leading global renewable energy and battery storage developer; the purchase of Geronimo Power, a large-scale U.S. energy developer; and Evren, a joint venture in India focused on developing over 10 GW of solar, wind, and energy storage projects.

Connor Teskey, President of Brookfield Asset Management and CEO for Renewable Power and Transition, said:

“With energy demand rising rapidly—driven by artificial intelligence, industrial growth, and transportation electrification—we need an ‘any and all’ approach to energy investment. Our strategy focuses on advancing technologies that can deliver clean, affordable, and reliable energy solutions for the global economy.”

Brookfield’s earlier Global Transition Fund I (BGTF I) had raised USD 15 billion, investing across multiple clean energy technologies including renewables, carbon capture, sustainable aviation fuel, battery storage, and nuclear services through its majority stake in Westinghouse.

The company also highlighted recent framework energy supply agreements with Microsoft and Google, marking the largest-ever renewable power deals in the wind, solar, and hydroelectric segments.

Brookfield’s latest fundraising underscores the growing institutional appetite for large-scale investments that accelerate the shift toward a low-carbon global energy system.