Brookfield Asset Management has announced the close of its Global Transition Fund II (BGTF II), securing $20 billion in institutional commitments. With additional co-investments, the total commitments amount to approximately s$23.5 billion, surpassing the fund’s initial target and marking another major step in Brookfield’s clean energy investment strategy.

More than $5 billion from this fund has already been allocated to energy transition projects, including Brookfield’s joint venture in India, Evren, which plans to develop over 10 GW of wind, solar, and energy storage capacity. The venture underlines the company’s continued focus on scaling renewable power generation in key growth markets.

Brookfield’s first transition vehicle, BGTF I, had raised about $15 billion, backing projects in clean energy, carbon capture, sustainable aviation fuel, battery storage, and nuclear services. The new fund extends this strategy, supporting global efforts to accelerate decarbonisation through diversified, long-term infrastructure investments.

According to Brookfield, rising global electricity demand—driven by industrial growth and electrification—makes sustained capital deployment in low-carbon technologies increasingly critical. BGTF II will continue channelling investment into projects that promote renewable capacity, energy storage, and system reliability, reinforcing Brookfield’s role in advancing the global energy transition.