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Brookfield Seeks USD 12.5bn for new impact fund

Brookfield Asset Management said it has raised USD 7bn for the initial close of its new impact investment fund.

Mark Carney, former Bank of England governor and current Brookfield vice-chair and head of transition investing | Photo: POOL New/REUTERS / X80003

Brookfield Asset Management. said it has raised USD 7bn for the initial close of its new impact investment fund, pulling in money from Singapore’s sovereign wealth fund and Canadian pension managers for an investment vehicle that will help businesses cut their carbon emissions.

The Toronto-based alternative asset manager said it plans to raise as much as USD 12.5bn for the Brookfield Global Transition Fund, which would make it the largest of its kind to date.

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