BGTF II exceeded its target and the record set by its predecessor to become the world's largest private fund dedicated to the transition to clean energy. The Fund received contributions from institutional investors worldwide, including a number of investors that are new to the Brookfield transition platform. This includes the previously announced commitments of $2 billion from ALTÉRRA and $1.5 billion from Norges Bank Investment Management.
In addition to the above commitments, the Fund has also secured approximately $3.5 billion of co-investment into its portfolio, bringing the total capital raised across the strategy in this vintage to approximately $23.5 billion.
More than $5 billion has already been deployed across a diverse set of high quality transition investments including:
Neoen: A public-to-private takeover of a leading, global renewable power and battery storage operator and developer
Geronimo Power: An acquisition of a large-scale, diversified energy developer in the U.S. with a significant operating and development pipeline in key power markets.
Evren: A joint venture in India to accelerate the development of over 10 GW of wind, solar and storage projects
Connor Teskey, President of Brookfield Asset Management and CEO for Renewable Power & Transition, commented:
"Energy demand is growing fast, driven by the growth of artificial intelligence as well as electrification in industry and transportation. Against this backdrop we need ...
