The Financial Post reports in its Tuesday edition that Brookfield Asset Management has raised an initial $2.4-billion for a fund dedicated to investing in clean energy and transition assets in emerging markets, about halfway to its goal (all figures U.S.). A Bloomberg dispatch to the Post says investors in the Catalytic Transition Fund include Singapore sovereign wealth fund GIC Pte., Prudential, Temasek Holdings and Caisse de dépôt et placement du Québec. "The support from the world's most sophisticated investors for the CTF strategy underscores the unique combination of the major commercial opportunity and the climate imperative," said Mark Carney, Brookfield chairman and head of its transition investing group. Investments in emerging markets need to increase sixfold from current levels to reach the $1.6-trillion needed annually by the early 2030s to meet global net zero targets, Brookfield said. The fund expects to announce its initial investments later in 2024. The fund, which targets $5-billion, was introduced at the COP28 climate change conference with as much as $1-billion of capital provided by United Arab Emirates investment firm Alterra. Brookfield has committed to provide 10 per cent of the target.