Brookfield Raises USD 20 Billion for Second Global Transition Fund to Drive Clean Energy Investments
Brookfield has closed its second Global Transition Fund (BGTF II) with USD 20 billion in commitments, strengthening its global push to accelerate investments in clean energy transition.
October 10, 2025. By Mrinmoy Dey
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 company claimed in a statement.
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 USD 2 billion from ALTÉRRA and USD 1.5 billion from Norges Bank Investment Management.
In addition to the above commitments, the Fund has also secured approximately USD 3.5 billion of co-investment into its portfolio, bringing the total capital raised across the strategy in this vintage to approximately USD 23.5 billion.
The company said that it has already deployed over USD 5 billion across a range of high-quality energy transition investments. These include the public-to-private acquisition of Neoen, a global renewable power and battery storage developer; the purchase of Geronimo Power, a large-scale US-based energy developer with an extensive operating and development pipeline in key power markets; and Evren, a joint venture in India aimed at accelerating the development of over 10 GW of wind, solar, and storage projects.
Connor Teskey, President of Brookfield Asset Management and CEO for Renewable Power and 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 an ‘any and all’ approach to energy investment that will continue to favour low-carbon resources. Our strategy will succeed by investing in the technologies that will deliver clean, abundant, and low-cost energy and transition solutions that underpin the global economy.”
Brookfield’s previous flagship transition fund (BGTF I) raised USD 15 billion and invested in a range of energy technologies globally, including renewables, carbon capture, sustainable aviation fuel, battery storage, as well as nuclear services via a majority stake in global technology leader, Westinghouse. Brookfield has also recently struck framework energy supply deals with Microsoft and Google, which were the largest ever agreed in wind/solar and hydroelectricity, respectively, the company stated.
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