Brookfield Asset Management has announced an initial closing of $2.4 billion for its Catalytic Transition Fund (CTF), with aspirations of raising up to $5 billion targeted at clean energy and transition assets in emerging markets. Launched at COP28, the fund is spearheaded by $1 billion in catalytic capital from ALTÉRRA, a prominent climate finance entity based in the United Arab Emirates. Brookfield itself will contribute 10% of the fund’s target, alongside commitments from institutional investors including CDPQ, GIC, Prudential, and Temasek. The CTF aims to mitigate risks and yield better returns for investors through innovative financing strategies. The fund focuses on regions that need substantial capital to achieve global net zero targets by the early 2030s. The first tranche of investments is expected to be announced in 2024, with a traditional first close anticipated by early 2025.
Private Equity, Climate Finance, Renewable Energy,Global, United Arab Emirates, Emerging Markets
https://www.cdpq.com/en/news/pressreleases/brookfield-raises-24-billion-catalytic-transition-fund-supported-anchor