Brookfield raises $15bn for inaugural Global Transition Fund co-headed by Mark Carney

Asset manager Brookfield has confirmed that a total of $15bn has been raised for its inaugural Global Transition Fund (GTF). According to a statement from the company, this makes it the world’s largest private fund dedicated to facilitating the global transition to a net-zero carbon economy. Brookfield attributed the significant capital raised to rising demand for funds that pursue the decarbonisation agenda. The statement adds: "A diverse group of more than 100 investors from around the world committed to the fund, including public and private pension plans, sovereign wealth funds, insurance companies, endowments and foundations, financial institutions, and family offices. Brookfield is the largest investor in the fund, underscoring the firm’s longstanding alignment of interests with those of its investors.” The GTF is co-headed by Mark Carney, Brookfield vice chair and former Bank of England governor, and Connor Teskey, CEO of Brookfield Renewable. Its current investments include industries such as solar and carbon capture and storage.