Brookfield has announced the final institutional close of its flagship energy transition strategy, Brookfield Global Transition Fund II (BGTF II), raising $20 billion in fund commitments and strategic capital from both existing and new investors. Investors include major global institutions, with commitments of $2 billion from ALTÉRRA and $1.5 billion from Norges Bank Investment Management. In addition to the fund commitments, approximately $3.5 billion has been secured through co-investments across its portfolio, bringing the total capital raised under this strategy to nearly $23.5 billion.
Over $5 billion has already been deployed across a diversified portfolio of high-quality transition investments, including the public-to-private acquisition of Neoen, the acquisition of Geronimo Power, and the establishment of the joint venture Evren. Brookfield’s first Global Transition Fund (BGTF I) had previously raised $15 billion and invested in technologies spanning renewables, carbon capture, sustainable aviation fuel, battery storage, and nuclear services through its majority stake in Westinghouse.
In July 2025, Brookfield Asset Management, along with Brookfield Renewable, signed a hydro framework agreement (HFA) with Google to deliver up to 3,000 MW of carbon-free hydroelectric capacity across US. The first contracts executed under this framework cover Brookfield’s Holtwood and Safe Harbor hydroelectric facilities in Pennsylvania, amounting to 670 MW of capacity with a total contract value of over $3 billion.