NBIM Invests $1.5bn in Brookfield's Energy Transition Fund
Norges Bank Investment Management (NBIM) has made its first investment in an energy transition fund, committing $1.5bn to Brookfield Asset Management's second global energy transition fund. This move broadens NBIM's exposure to global energy transition projects and decarbonisation initiatives.
The BGTF II fund, targeting $17bn in fundraising, will invest across North and South America, Europe, and Asia Pacific. It will focus on clean energy, industrial decarbonisation, and business transformation projects. NBIM's global head of energy and infrastructure, Harald von Heyden, believes the timing is right to complement the direct investment portfolio with selective fund investments like this one.
NBIM has ensured decarbonisation impact through Brookfield's impact measurement framework and secured transparency in the investment agreement.
This is NBIM's first foray into energy transition funds, marking a significant step in its commitment to global decarbonisation initiatives. The investment in BGTF II allows NBIM to diversify its portfolio while supporting the transition to a low-carbon economy.
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