Brookfield expects to raise over $15 billion for new impact fund [Financial Post (Toronto, Ontario, Canada)]
Brookfield Asset Management Inc Class A Limited Voting Shares (BAM)
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Source: Financial Post
Brookfield Asset Management Inc. expects to raise more than US$15 billion for its new impact fund, exceeding a previous forecast of US$12.5 billion. Advertisement Article content “It could have been more,” Chief Executive Officer Bruce Flatt said of the Global Transition Fund during an investor conference Wednesday. The Toronto-based firm capped the size of the fund, indicating “the interest in transition investing,” he said. Some of the proceeds will be used to provide capital to industrial companies and utilities worldwide to help them decarbonize, Flatt said. Brookfield said in July that it had raised US$7 billion for the initial close of the fund. If it were to raise the sum it was contemplating then, it would amount to almost the total capital raised by buyout firms for impact funds over the past five years, according to Prequin data. The US$15 billion “isn't even going to scratch the surface, but it's the largest out there today,” Flatt said. Brookfield, which ove
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