Brookfield Asset Management Ltd. announced today, 7 October 2025, that it has closed the final institutional round of its flagship energy‑transition vehicle, Brookfield Global Transition Fund II (BGTF II). The fund has raised $20 billion in commitments and strategic capital, surpassing its original target and setting a new record for the largest private fund dedicated to the clean‑energy transition.
The capital package includes $2 billion from Altéra and $1.5 billion from Norges Bank Investment Management, both of which were newly announced commitments. In addition, the fund secured roughly $3.5 billion of co‑investment, bringing the total capital raised in this vintage to about $23.5 billion—$5 billion more than the $15 billion raised for BGTF I.
More than $5 billion of the capital has already been deployed across a diversified portfolio of high‑quality transition assets, including renewable power, carbon capture, sustainable aviation fuel, battery storage, and nuclear services through Westinghouse. Brookfield’s President of Renewable Power & Transition, Connor Teskey, highlighted the fund’s role in supporting the rapid growth of AI‑driven energy demand and electrification, noting that the strategy will continue to favor low‑carbon resources and deliver clean, abundant, and low‑cost energy solutions.
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