ESG & Investing
Brookfield Seeks $20 Billion for Next Energy Transition Fund
- The first fund, run by Carney and Teskey, raised $15 billion
- World needs more renewable energy capacity to reach net-zero
Photographer: Chris Ratcliffe/Bloomberg
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Brookfield Asset Management Ltd. aims to raise about $20 billion for its second fund dedicated to investing in the global transition to clean energy from fossil fuels, according to people familiar with the matter.
Fundraising is expected to start by midyear, said the people, who asked not to be identified because the plans are confidential, and the firm may eventually gather as much as $25 billion for the pool depending on investor demand. A representative for the Toronto-based firm declined to comment.