Canadian fund manager Brookfield Asset Management Ltd has partnered with Alterra Management Ltd to launch a new climate action fund, Catalytic Transition Fund (CTF), to raise $5 billion to boost spending in emerging markets.
The CTF, managed by Brookfield, will receive $1 billion from Alterra and channel a total of $5 billion toward climate transition assets and clean energy investments across emerging markets. These assets will fund decarbonisation and energy transitions in Southeast Asian economies, with a focus on India.
“This represents a massive opportunity, especially in countries like India where Brookfield already is a significant player with $3 billion of equity committed over the past five years and with its platforms representing an asset pool of over 25 GW,” said Nawal Saini, managing director, renewable power & transition, Brookfield Asset Management.
Brookfield highlighted India’s clear policies supporting the transition to a net-zero economy and a strong corporate demand for decarbonization as attractive factors. This fund will supplement India’s goals of generating half the country’s electric power capacity using green energy by 2030 and achieving net-zero carbon emissions by 2070.