Brookfield Closes $20B Global Energy Transition Fund II, Setting New Record 

Brookfield Asset Management has completed the final close of its flagship energy transition vehicle, the Brookfield Global Transition Fund II (BGTF II), securing $20 billion in fund commitments and strategic capital, and establishing a new global record for the largest private fund ever raised for clean energy investment. 

The close surpasses both Brookfield’s initial target and the benchmark set by its predecessor, BGTF I, which raised $15 billion. The fund drew commitments from a diverse set of global institutional investors, including major new participants to the platform such as ALTÉRRA, which invested $2 billion, and Norges Bank Investment Management, which contributed $1.5 billion. 

Including approximately $3.5 billion of co-investment capital, BGTF II’s total capital base across this vintage reaches $23.5 billion. To date, more than $5 billion has already been deployed across a portfolio of high-quality transition investments, including Neoen, Geronimo Power, and Evren—spanning renewable generation, grid modernization, and clean power infrastructure. 

“Energy demand is growing fast, driven by the growth of artificial intelligence as well as electrification in industry and transportation,” said Connor Teskey, President of Brookfield Asset Management and CEO of Renewable Power & Transition. “Against this backdrop, we need an ‘any and all’ approach to energy investment that will continue to favor low-carbon resources.” 

BGTF II builds upon the foundation of Brookfield Global Transition Fund I, which invested across renewables, carbon capture, battery storage, sustainable aviation fuel, and nuclear services—most notably through its majority stake in Westinghouse, the global nuclear technology leader. 

Recently, Brookfield executed landmark energy supply agreements with Microsoft and Google, representing the largest renewable energy deals ever signed in wind, solar, and hydroelectric power.