Ares Management and Brookfield Asset Management are starting the capital formation process for their second climate funds.
Brookfield registered Global Transition Fund II earlier this month, SEC filings seen by New Private Markets show. The firm expects Fund II to be “larger than the first”, which closed on $15 billion last year, chief financial officer Bahir Manios said in May.
Ares registered Climate Infrastructure Partners Fund II with the SEC at the end of June. The fund has a $3 billion target and will invest in renewables, energy efficiency, storage, vehicle electrification and transmission, our colleagues at Infrastructure Investor reported earlier this year (registration required).