Norges Bank Investment Management (NBIM), the asset management unit of the Norwegian central bank, which invests on behalf of the country’s sovereign wealth fund, has committed $1.5 billion to Brookfield Global Transition Fund II (BGTF II).
The closed-end fund aims to raise $20 billion for investments that advance the global shift to net-zero, specifically through renewable power and investments that reduce carbon emissions, as well as industrial and utility sectors in Europe and North America.
CalPERS committed $1 billion to BGTF II in the first half of 2025. Brookfield Global Transition Fund I, the predecessor of BGTF II, closed with $15 billion in equity raised in 2022.
As of June 30, NBIM’s assets under management were valued at NOK 20.4 trillion ($2 trillion).
