Brookfield’s second Global Transition Fund raises $10 billion for decarbonization and data centers

ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, February 6 — After raising its inaugural $15 billion Global Transition Fund in 2022, Brookfield has identified a pipeline of investment opportunities, driven by “corporate demand for decarbonization technologies” and new emerging trends, “such as supplying reliable, clean power to the surging data and technology sector,” said Connor Teskey, head of Brookfield’s renewable power and transition business.

Brookfield received commitments from new and existing LPs and could raise as much as $25 billion.

Clean tech portfolio

The global alternative asset manager has deployed most of the first fund, backing companies including Mumbai-based CleanMax, which provides clean energy to corporate customers in India. The fund made a $1 billion investment in Avaada Group, also based in Mumbai, to finance green hydrogen and ammonia projects.

In the US, Brookfield invested $500 million in Chicago’s LanzaTech to convert industrial carbon emissions into sustainable fuel and inputs for textile, rubber and packaging.