Brookfield Asset Management looks to raise $5-billion for UAE-backed climate fund [Globe and Mail, The (Toronto, Canada)]
Brookfield Corporation Class A Limited Voting Shares (BN)
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Source: Globe and Mail, The
Anchored by a $1-billion commitment from the $30-billion UAE-based ALTÉRRA fund, the first close of the CTF is expected by the end of 2024, Brookfield said in a statement. The first close of a fund refers to when it has secured enough commitments to start making investments. Excluding China, developing economies get less than 15 per cent of the world's clean energy dollars despite being responsible for nearly a third of global emissions, and as a result investments there can often have a bigger impact, Brookfield said. Returns to the ALTÉRRA fund will be capped at an unspecified amount, allowing other investors to secure better risk-adjusted returns. At least 10 per cent of the fund's capital will be provided by Brookfield, which manages $925-billion in assets. “The Catalytic Transition Fund is a private market solution to the global challenge of delivering transition investment to emerging markets,” said Mark Carney, Chair and Head of Transition Investing at Brookfield Asset
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BN
Earnings
- 5/9/24 - Miss
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Sec Filings
- 6/18/24 - Form 6-K
- 6/18/24 - Form 6-K
- 6/17/24 - Form 6-K
- BN's page on the SEC website