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Brookfield raises $10B for latest climate fund

Illustration of the earth on a large pile of money

Illustration: Eniola Odetunde/Axios

Brookfield Asset Management said it's raised $10 billion in a first close of the firm's second energy-transition fund and is seeking to raise another $15 billion.

Why it matters: The fundraising marks the latest move by a major asset manager to expand its energy-transition investment.

Details: Brookfield is aiming to close its new fund, Brookfield Global Transition Fund, in Q3.

Of note: Brookfield is also planning to raise billions for an emerging-markets fund, per the WSJ. The firm plans to raise more than $25 billion across the two funds.

State of play: Brookfield says it's invested more than $100 billion in the energy transition.

  • Its fundraising announcement this morning comes a few weeks after BlackRock unveiled a $12.5 billion agreement to acquire Global Infrastructure Partners and General Atlantic said it was buying London-based buyout firm Actis, in a move aimed at expanding its climate-focused infrastructure deals
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