Brookfield Asset Management has raised $10 billion for its second Brookfield Global Transition Fund, which “focuses on investments to accelerate the global transition to a net zero economy while delivering strong risk-adjusted returns for investors”.
According to the press release, the fund was supported by both new and existing investors.
The second Brookfield Global Transition Fund is co-led by Mark Carney and Connor Teskey. Mark Carney is the former Governor of the Banks of England and Canada. Connor Teskey joined Brookfield Asset Management’s private equity arm in 2012 and later served as Managing Partner and Chief Investment Officer of Brookfield Renewable.
Brookfield Asset Management’s new fund was first launched last year and is on track to beat the record-breaking first Brookfield Global Transition Fund, which had raised $15 billion. Brookfield’s first transition fund has been very successful. Its capital is deployed across renewable and carbon capture solutions.
The total impact of the first transition fund “is on track to exceed the combined annual emissions of New York City, London, and Toronto”.
On 7 February 2024, Brookfield Asset Management announced a 19% dividend increase following strong fourth-quarter results. Other notable fundraising highlights in 2023 for Brookfield Asset Management include $30 billion in capital that was raised for its infrastructure fund and $6 billion for its infrastructure debt fund.
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