Brookfield Launches Emerging Markets Transition Fund with Anchor Commitment from ALTÉRRA Alongside Investment in the Brookfield Global Transition Fund; Both Funds to Help Deploy Over $20 Billion in Climate Initiatives
BROOKFIELD, NEWS, Dec. 01, 2023 (GLOBE NEWSWIRE) -- Today at COP28, Brookfield Asset Management (“Brookfield”) (NYSE: BAM, TSX: BAM) and ALTÉRRA, the world’s largest private markets climate vehicle launched at the World Climate Action Summit, announced the creation of a multi-billion dollar Catalytic Transition Fund (‘CTF’ or the ‘Fund’) with commitments from ALTÉRRA Transformation. ALTÉRRA also committed to investing US$2 billion from ALTÉRRA Acceleration into the second Brookfield Global Transition Fund (“BGTF II”), Brookfield’s flagship fund focused on the energy transition.
- ALTÉRRA also committed to investing US$2 billion from ALTÉRRA Acceleration into the second Brookfield Global Transition Fund (“BGTF II”), Brookfield’s flagship fund focused on the energy transition.
- The Fund will be managed by Brookfield and will receive up to US$1 billion in catalytic capital from ALTÉRRA Transformation, to enhance the risk-adjusted returns available to commercially-oriented investors.
- CTF will focus on decarbonization initiatives, with an innovative structure that leverages ALTÉRRA's financial commitment to attract private sector investment at scale.
- ALTÉRRA Acceleration is also today announcing a US$2 billion commitment to the second Brookfield Global Transition Fund, making it the single-largest third-party investor in the fund to date.