Brookfield Asset Management has announced an initial closing of $2.4 billion for its Catalytic Transition Fund (CTF), nearly crossing the halfway mark to its $5 billion target. CTF will invest in clean-energy and transition assets in emerging markets.
The fund was previously launched at COP28 with up to $1 billion of catalytic capital provided by ALTÉRRA funds, the world’s largest private investment vehicle for climate finance, which is based in the United Arab Emirates and focused on mobilizing investment at scale to finance a new climate economy.
Brookfield has committed to provide 10 percent of the fund’s target to align itself with investment partners and investors. The firm also announced four additional investment partners for CTF: the Caisse de dépôt et placement du Québec (CDPQ), GIC, Prudential and Temasek, among others. These institutional investors are important global players in transition investing and will be valued partners to Brookfield as CTF i