Brookfield Raises $2.4 billion for Catalytic Transition Fund Supported by Anchor Commitment from ALTÉRRA
Brookfield Asset Management (NYSE: BAM, TSX: BAM) has announced an initial closing of $2.4 billion for its Catalytic Transition Fund (CTF), targeting up to $5 billion for clean energy and transition assets in emerging markets. The fund is anchored by a $1 billion catalytic capital investment from ALTÉRRA, with additional commitments from CDPQ, GIC, Prudential, and Temasek, among others.
CTF aims to deploy capital in South and Central America, South and Southeast Asia, the Middle East, and Eastern Europe. ALTÉRRA's commitment is designed to improve risk-adjusted returns for other investors. Brookfield has committed 10% of the fund's target. The fund expects to announce initial investments later in 2024, with a traditional first close anticipated by early 2025.
This partnership addresses the need to increase clean energy investment in emerging markets sixfold to reach $1.6 trillion annually by the early 2030s, aligning with global net zero targets.
Brookfield Asset Management (NYSE: BAM, TSX: BAM) ha annunciato una chiusura iniziale di 2,4 miliardi di dollari per il suo Catalytic Transition Fund (CTF), puntando a raccogliere fino a 5 miliardi di dollari per energie pulite e asset di transizione nei mercati emergenti. Il fondo è sostenuto da un investimento di capitale catalitico di 1 miliardo di dollari da parte di ALTÉRRA, con ulteriori impegni da CDPQ, GIC, Prudential e Temasek, tra gli altri.
Il CTF mira a investire capitali in America del Sud e Centrale, nel Sud e nel Sud-Est asiatico, in Medio Oriente e in Europa orientale. L'impegno di ALTÉRRA è progettato per migliorare i rendimenti corretti per il rischio per altri investitori. Brookfield ha impegnato il 10% dell'obiettivo del fondo. Il fondo prevede di annunciare i primi investimenti entro la fine del 2024, con una chiusura tradizionale prevista entro l'inizio del 2025.
Questa partnership affronta la necessità di aumentare gli investimenti in energie pulite nei mercati emergenti di sei volte, per raggiungere 1,6 trillion di dollari all'anno entro i primi anni del 2030, allineandosi con gli obiettivi globali di emissioni nette zero.
Brookfield Asset Management (NYSE: BAM, TSX: BAM) ha anunciado un cierre inicial de 2.4 mil millones de dólares para su Catalytic Transition Fund (CTF), con un objetivo de hasta 5 mil millones de dólares para energía limpia y activos de transición en mercados emergentes. El fondo está respaldado por una inversión de capital catalítico de 1 mil millones de dólares de ALTÉRRA, con compromisos adicionales de CDPQ, GIC, Prudential y Temasek, entre otros.
El CTF busca desplegar capital en América del Sur y Central, en el Sur y Sudeste Asiático, en Medio Oriente y Europa del Este. El compromiso de ALTÉRRA está diseñado para mejorar los rendimientos ajustados al riesgo para otros inversionistas. Brookfield ha comprometido el 10% de la meta del fondo. Se espera que el fondo anuncie las inversiones iniciales a finales de 2024, con un cierre tradicional anticipado para principios de 2025.
Esta asociación aborda la necesidad de aumentar la inversión en energía limpia en los mercados emergentes seis veces, para alcanzar 1.6 billones de dólares anuales para principios de la década de 2030, alineándose con los objetivos globales de emisiones netas cero.
브룩필드 자산 관리(NYSE: BAM, TSX: BAM)는 카탈리틱 전환 기금(CTF)의 초기 마감액으로 24억 달러를 발표했으며, 신흥 시장의 청정 에너지 및 전환 자산을 위해 최대 50억 달러를 목표로 하고 있습니다. 이 기금은 ALTÉRRA의 10억 달러 규모의 촉매 자본 투자로 기반을 두고 있으며, CDPQ, GIC, 프루덴셜, 테마섹 등으로부터 추가적 의무가 있습니다.
CTF는 남미와 중앙 아메리카, 남아시아 및 동남아시아, 중동, 동유럽에 자본을 배치하는 것을 목표로 하고 있습니다. ALTÉRRA의 헌신은 다른 투자자들을 위한 위험 조정 수익 개선을 위해 설계되었습니다. 브룩필드는 이 기금 목표의 10%를 공약했습니다. 이 기금은 2024년 후반에 초기 투자를 발표할 예정이며, 전통적인 첫 번째 마감은 2025년 초에 예상됩니다.
이 파트너십은 2030년대 초까지 청정 에너지 투자를 신흥 시장에서 6배 증가시켜 매년 1.6조 달러에 도달해야 한다는 필요성을 다루고 있으며, 이는 글로벌 탄소 중립 목표에 부합합니다.
Brookfield Asset Management (NYSE: BAM, TSX: BAM) a annoncé un premier closing de 2,4 milliards de dollars pour son Catalytic Transition Fund (CTF), visant jusqu'à 5 milliards de dollars pour des actifs d'énergie propre et de transition sur les marchés émergents. Le fonds est soutenu par un investissement en capital catalytique de 1 milliard de dollars de la part d'ALTÉRRA, avec des engagements supplémentaires de CDPQ, GIC, Prudential et Temasek, entre autres.
Le CTF vise à déployer des capitaux en Amérique du Sud et Centrale, en Asie du Sud et du Sud-Est, au Moyen-Orient et en Europe de l'Est. L'engagement d'ALTÉRRA est conçu pour améliorer les rendements ajustés au risque pour les autres investisseurs. Brookfield a engagé 10 % de l'objectif du fonds. Le fonds prévoit d'annoncer des investissements initiaux d'ici la fin de 2024, avec une première clôture traditionnelle attendue début 2025.
Ce partenariat répond à la nécessité d'augmenter de six fois l'investissement dans les énergies propres sur les marchés émergents pour atteindre 1,6 trillion de dollars par an d'ici le début des années 2030, en alignement avec les objectifs mondiaux de zéro émission nette.
Brookfield Asset Management (NYSE: BAM, TSX: BAM) hat einen ersten Abschluss von 2,4 Milliarden Dollar für ihren Catalytic Transition Fund (CTF) angekündigt, der bis zu 5 Milliarden Dollar für saubere Energie und Übergangsvermögen in Schwellenländern anvisiert. Der Fonds wird durch eine 1 Milliarde Dollar große katalytische Kapitalinvestition von ALTÉRRA unterstützt, mit zusätzlichen Zusagen von CDPQ, GIC, Prudential und Temasek, unter anderen.
Der CTF zielt darauf ab, Kapital in Süd- und Mittelamerika, Südasien und Südostasien, dem Nahen Osten und Osteuropa bereit zu stellen. Das Engagement von ALTÉRRA soll die risiko-adjustierten Renditen für andere Investoren verbessern. Brookfield hat 10 % des Fonds ziele zugesagt. Der Fonds plant, bis Ende 2024 erste Investitionen bekannt zu geben, mit einem traditionellen ersten Abschluss, der Anfang 2025 erwartet wird.
Diese Partnerschaft adressiert die Notwendigkeit, die Investitionen in saubere Energie in Schwellenländern bis zur frühen 2030er Jahren auf das Sechsfache zu steigern, um jährlich 1,6 Billionen Dollar zu erreichen, was mit den globalen Netto-Null-Zielen in Einklang steht.
- Initial closing of $2.4 billion, approximately half of the $5 billion target
- Secured commitments from major institutional investors like CDPQ, GIC, Prudential, and Temasek
- ALTÉRRA's $1 billion catalytic capital investment designed to improve risk-adjusted returns for other investors
- Brookfield's commitment of 10% of the fund's target aligns with investment partners
- Addresses significant investment gap in clean energy for emerging markets
- None.
Additional capital raised from CDPQ, GIC, Prudential and Temasek, among others
Targeting up to
BROOKFIELD, NEWS, Sept. 23, 2024 (GLOBE NEWSWIRE) -- Brookfield Asset Management (NYSE: BAM, TSX: BAM) (“Brookfield”) today announced an initial closing of
CTF was previously launched at COP28 with up to
Today, Brookfield is announcing four additional investment partners for CTF: CDPQ, GIC, Prudential and Temasek, among others. These leading institutional investors are important global players in transition investing and will be valued partners to Brookfield as CTF gets deployed in its target markets. CTF has now raised approximately half of the
CTF is focused on deploying capital into clean energy and transition assets in emerging markets in South and Central America, South and Southeast Asia, the Middle East, and Eastern Europe. This strategic partnership will help drive clean energy investment into emerging markets, where investment needs to increase sixfold over current levels to reach the
The Fund expects to announce its initial investments later in 2024, and a traditional first close – with additional capital from Brookfield’s ongoing fundraising efforts through its extensive network of institutional investors – is expected by early 2025.
H.E Majid Al-Suwaidi, CEO of ALTÉRRA, said:
“CTF demonstrates ALTÉRRA’s catalytic capital as a powerful multiplier of climate finance to the Global South. This early momentum around CTF shows strong global demand not just for climate strategies, but for opportunities to invest in climate solutions in emerging markets. ALTÉRRA looks forward to working with CDPQ, GIC, Prudential and Temasek and other partners who share our ambitions to redefine how the world invests in climate solutions and go beyond business-as-usual to deliver positive impact for both people and planet.”
Mark Carney, Chair and Head of Transition Investing at Brookfield Asset Management, said:
“These anchor commitments from CDPQ, GIC, Prudential and Temasek demonstrate significant momentum for the Catalytic Transition Fund. The support from the world’s most sophisticated investors for the CTF strategy underscores the unique combination of the major commercial opportunity and the climate imperative. We look forward to working with other like-minded investment partners to accelerate the transition in these critical and vastly underserved markets.”
Marc-André Blanchard, Executive Vice-President and Head of CDPQ Global and Global Head of Sustainability, said:
“Globally, around
Don Guo, Chief Investment Officer, Prudential plc, said:
“We believe there is an opportunity to drive scalable positive change in emerging markets through investing in the climate transition. Prudential’s investment in Brookfield’s Catalytic Transition Fund underscores our belief that responsible investment is not only an environmental imperative but also a significant opportunity for growth in emerging markets. By supporting a just and inclusive transition, we enable the benefits of sustainable development to be shared widely, contributing to social equity and long-term prosperity.”
About Brookfield Asset Management
Brookfield Asset Management (NYSE: BAM, TSX: BAM) is a leading global alternative asset manager with approximately
Brookfield operates one of the world’s largest platforms for renewable power and sustainable solutions. Our renewable power portfolio consists of hydroelectric, wind, utility-scale solar and storage facilities in North America, South America, Europe and Asia, and totals approximately 34,000 megawatts of installed capacity and a development pipeline of approximately 200,000 megawatts. Our portfolio of sustainable solutions assets includes our investments in Westinghouse, a leading global nuclear services business, and a utility and independent power producer with operations in the Caribbean and Latin America, as well as both operating assets and a development pipeline of carbon capture and storage capacity, agricultural renewable natural gas and materials recycling.
As a signatory to the Net Zero Asset Managers initiative, Brookfield is committed to supporting the goal of achieving net-zero greenhouse gas emissions by 2050 or sooner—in line with the Paris Agreement.
For more information, please visit our website at www.brookfield.com.
About ALTÉRRA
ALTÉRRA is the world’s largest private investment vehicle for climate finance. Launched at COP28 with a US
ALTERRA's dual-arm structure enhances its impact: the US
Alterra Management Limited is duly licensed and authorised by the ADGM Financial Services Regulatory Authority under the Financial Services Permission No. 200001.
Brookfield
| Media: Simon Maine Tel: +44 (0)7398 909 278 Email: simon.maine@brookfield.com | Investor Relations: Jason Fooks Tel: +1 (866) 989 0311 Email: jason.fooks@brookfield.com |
ALTÉRRA
| Simon Hailes Managing Director Middle East Edelman Smithfield M: +971 50 973 1173 Email: simon.hailes@edelmansmithfield.com |
Notice to Readers
This news release contains “forward-looking information” within the meaning of Canadian provincial securities laws and “forward-looking statements” within the meaning of the U.S. Securities Act of 1933, the U.S. Securities Exchange Act of 1934, “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and in any applicable Canadian securities regulations (collectively, “forward-looking statements”). Forward-looking statements include statements that are predictive in nature, depend upon or refer to future results, events or conditions, and include, but are not limited to, statements which reflect management’s current estimates, beliefs and assumptions and which are in turn based on our experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. The estimates, beliefs and assumptions of Brookfield are inherently subject to significant business, economic, competitive and other uncertainties and contingencies regarding future events and as such, are subject to change. Forward-looking statements are typically identified by words such as “expect”, “anticipate”, “believe”, “foresee”, “could”, “estimate”, “goal”, “intend”, “plan”, “seek”, “strive”, “will”, “may” and “should” and similar expressions. In particular, the forward-looking statements contained in this news release include statements referring to, among other things, CTF’s fundraising target, the expected impact and returns of CTF and the expected timing for announcing initial investments and the first close of CTF.
Although Brookfield believes that such forward-looking statements are based upon reasonable estimates, beliefs and assumptions, certain factors, risks and uncertainties, which are described from time to time in our documents filed with the securities regulators in Canada and the United States, or that are not presently known to Brookfield or that Brookfield currently believes are not material, could cause actual results to differ materially from those contemplated or implied by forward-looking statements.
Readers are urged to consider these risks, as well as other uncertainties, factors and assumptions carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements, which are based only on information available to us as of the date of this news release. Except as required by law, Brookfield undertakes no obligation to publicly update or revise any forward-looking statements, whether written or oral, that may be as a result of new information, future events or otherwise.
FAQ
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