Norwegian Fund to Invest $1.5 Billion in Brookfield-Managed Unit

Norway’s $2 trillion sovereign wealth fund will invest in an energy transition fund managed by Brookfield Asset Management, as it seeks to broaden its portfolio of unlisted renewable assets.

Norges Bank Investment Management, the world’s biggest sovereign wealth fund, said Friday that it will commit $1.5 billion to Brookfield Asset Management’s Global Transition Fund II. The investment vehicle targets business transformation, clean energy and sustainable solutions.