Top Climate Investors
Brookfield leads on climate-dedicated capital with a ~$145 billion transition platform, months after closing BGTF II at $20 billion — the largest private clean-energy transition fund ever raised.
Largest platform: Brookfield (~$145B) · BGTF II: $20B close, Oct 2025 — a record · 2025 energy-transition investment: $2.3T
A climate investor commits capital specifically to the energy transition — renewable power, electrified transport, decarbonization technology — rather than through a generalist fund with a green sleeve. Measured that way, Brookfield Asset Management leads by a wide margin. Its renewable power and transition platform runs roughly $145 billion, and in October 2025 it closed the second Brookfield Global Transition Fund at $20 billion plus about $3.5 billion of co-investment: the largest private clean-energy transition fund ever raised, per the firm's announcement, following a $15 billion first vintage and deployments including Neoen and Geronimo Power. Behind it sit dedicated platforms a tier smaller — Actis, now General Atlantic's sustainable-infrastructure arm, at $19 billion; Macquarie's green investments business at $17 billion as of September 2025; TPG Rise Climate at $16 billion of commitments; and Generate Capital above $9 billion.
The next test is whether the market absorbs the second vintages now forming. TPG's Rise Climate II is in the market, General Atlantic's BeyondNetZero is raising its second fund, and Breakthrough Energy Ventures — Bill Gates's hard-tech climate vehicle with more than $3.5 billion committed — continues investing from a third fund that has drawn $839 million so far. Recent closes suggest the appetite is real. Macquarie wrapped a $3 billion Green Energy Transition Solutions fund in September 2025; Energy Impact Partners closed its third flagship at $1.36 billion in October, nearly 40% larger than its predecessor; KKR has raised about $3 billion for its Global Climate Transition Fund; and in Europe, 2150 closed a €210 million second fund in January 2026. Because the metric mixes platform AUM with fund commitments and co-investment, the figures below are indicative rather than strictly comparable.
The macro tape is stronger than the fundraising tape. Global energy-transition investment hit a record $2.3 trillion in 2025, up 8% on the year, led by electrified transport at $893 billion, renewables at $690 billion, and grids at $483 billion, per BloombergNEF. Fund flows followed: 179 investment funds raised a record $92 billion in climate finance in 2025, and climate-focused fundraising grew 20% across 2023-24 even as overall private-equity fundraising fell 18%. Climate private-equity deal volume reached $73 billion in 2024. The pattern favors infrastructure-scale platforms over early-stage venture — most of the new money is going into steel in the ground rather than software. Each firm on the list links to a live Altss profile covering its funds in market, its people, and its deals.
Top Climate Investors: by the numbers
- Brookfield's renewable power and transition platform stands at roughly $145 billion, with BGTF II closed at $20 billion in October 2025 — the largest private clean-energy transition fund raised to date, per the firm.
- Actis, General Atlantic's sustainable-infrastructure arm, manages $19 billion and has raised about $26 billion since inception, per the firm.
- Macquarie Asset Management's green investments platform reached $17 billion as of September 2025 after closing a $3 billion Green Energy Transition Solutions fund, per Macquarie.
- Global energy-transition investment reached a record $2.3 trillion in 2025, up 8% from 2024, per BloombergNEF.
- 179 investment funds raised a record $92 billion in climate finance in 2025, per Politico's E&E News.
- Climate private-equity transactions totaled $73 billion in 2024, and climate fundraising rose 20% across 2023-24 while overall PE fundraising fell 18%, per BCG.
Top Climate Investors
2025-mid 2026 (latest firm disclosures, filings, and press as of available 2026 reporting)
Ordered by climate-dedicated capital: the AUM of a renewables or transition platform, or total commitments to dedicated climate and energy-transition funds — not total firm assets. Where a firm's climate capital cannot be cleanly separated, as with Khosla Ventures, the note says so.
| # | Firm | Scale | Headquarters |
|---|---|---|---|
| 1 | Brookfield Asset Management (Renewable Power & Transition / BGTF)World's largest renewable-power and transition platform; closed the record $20B BGTF II — the largest private clean-energy transition fund — in October 2025, with deployments including Neoen and Geronimo Power. | ~$145B (platform AUM); BGTF I $15B + BGTF II $20B + ~$3.5B co-invest | Toronto, Canada / New York, USA |
| 2 | Actis (General Atlantic sustainable infrastructure)Growth-markets sustainable-infrastructure investor across energy, long-life, and digital assets; has raised about $26B since inception and now operates as General Atlantic's sustainable-infrastructure arm. | $19B AUM | London, UK |
| 3 | Macquarie Asset Management Green Investments / GIGDedicated green-energy investment strategies running for more than 20 years; closed the $3B Green Energy Transition Solutions fund with co-investment in September 2025, and reports portfolio-level greenhouse-gas avoidance. | $17B | Sydney, Australia |
| 4 | TPG Rise ClimateDedicated multi-strategy climate private equity spanning buyouts and growth, transition infrastructure, and a Global South initiative; Rise Climate I closed at about $7.3B, a second fund is in the market, and TPG's broader Impact platform held $32B as of March 2026. | $16B total commitments (Rise Climate platform) | San Francisco / Fort Worth, USA |
| 5 | Generate CapitalSustainable-infrastructure developer, investor, and operator across power, mobility, waste, and decarbonization; raised $1.5B of equity in 2024 and recently more than $1B of credit capital. | >$9B assets (equity + credit); >$10B raised since inception | San Francisco, USA |
| 6 | Galvanize Climate SolutionsMulti-strategy climate manager founded by Tom Steyer, spanning venture and growth investing above $1B, a $1.3B credit and capital-solutions program, and real-estate decarbonization. | ~$7B AUM (regulatory ~$6.98B) | San Francisco, USA |
| 7 | Energy Impact Partners (EIP)Global energy-technology investor backed by 80+ corporate partners; closed its third flagship fund at $1.36B in October 2025, nearly 40% larger than its predecessor. | >$4.5B AUM | New York, USA |
| 8 | General Atlantic BeyondNetZeroGeneral Atlantic's dedicated climate growth-equity fund, classified Article 9, backing high-growth climate solutions; a second fund is in the market. | ~$3.5B (external ~$2.6B + GA capital) | New York, USA |
| 9 | Breakthrough Energy Ventures (BEV)Bill Gates-led hard-tech climate VC; Funds I and II ran about $1B each and Fund III has drawn $839M+, with 100+ portfolio companies targeting gigaton-scale emissions cuts. | >$3.5B committed capital | Kirkland, USA |
| 10 | Greenbacker CapitalMulti-strategy clean-energy and sustainable-infrastructure manager across equity, credit, and independent power production, operating about 3.3 GW of clean capacity. | $3.1B AUM | New York, USA |
| 11 | Climate Fund ManagersBlended-finance private equity and credit for climate mitigation and adaptation in emerging markets — renewables, hydrogen, water — through its Climate Investor fund series. | >$2.8B AUM | The Hague, Netherlands |
| 12 | KKR (Global Climate Transition Fund / climate investments)Runs a dedicated Global Climate Transition Fund focused on infrastructure solutions; the firm counts $52B+ of climate and environmental investments since 2010 across its broader multi-strategy platform. | Global Climate Fund ~$3B raised (target higher); $52B+ climate/env investments since 2010 | New York, USA |
| 13 | Lowercarbon CapitalChris Sacca's prolific early-stage climate-tech firm; raised $550M across two funds in 2023, taking total assets above $2B across 100+ portfolio companies. | >$2B AUM | Jackson Hole / US multi |
| 14 | Congruent VenturesPure-play early-stage climate tech at seed and Series A; closed Fund III at $275M in 2023 and runs one of the largest early-stage climate portfolios. | >$1B AUM | San Francisco, USA |
| 15 | 2150Urban and industrial climate-tech VC focused on decarbonizing the built environment; closed Fund II at €210M in January 2026, taking AUM to €500M. | €500M AUM (~$540M) | London, UK |
| 16 | World FundDedicated European climate-tech VC whose debut was the largest European first fund in the category; backs technologies with the potential to save at least 100Mt of CO2e a year, with a larger second fund targeted. | €300M (~$320M) | Berlin, Germany |
| 17 | G2 Venture PartnersGrowth-stage investor bringing climate technology to traditional industries, with a 15-year climate focus; announced a $750M target for Fund III in late 2024. | Raising $750M Fund III (prior funds smaller; est. total climate capital ~$1B+) | Portola Valley, USA |
| 18 | Khosla VenturesMulti-sector venture firm with a heavy, long-running climate and deep-tech commitment — fusion, carbon, agritech — included as a generalist with climate emphasis rather than a pure climate vehicle. | ~$15B+ overall AUM (significant climate allocation; not pure dedicated) | Menlo Park, USA |
The metric mixes platform AUM, fund commitments, and co-investment, and blends pure climate mitigation with broader sustainable infrastructure; figures are not simultaneous. Totals for Breakthrough Energy Ventures, Lowercarbon, G2, and Khosla are partly estimated. Scope excludes corporate venture arms and most sovereigns while including blended-finance managers and large dedicated platforms. No single authoritative league table for climate-dedicated capital exists; this ranking synthesizes firm disclosures, filings, and trade-press reporting, and some 2026 raises remain in progress.
How we rank — and what counts as climate capital
Firms are ordered by climate-dedicated capital: the assets of a renewables or transition platform, or total commitments raised for dedicated climate and energy-transition strategies. Sources are firm disclosures, SEC filings, and trade press including PEI's New Private Markets.
Pure-play vehicles are preferred over generalist funds, and corporate venture arms and most sovereign investors are excluded. Blended-finance managers such as Climate Fund Managers are included, as are the large dedicated platforms inside Brookfield, Macquarie, and KKR.
Top Climate Investors — common questions
What is the largest climate fund ever raised?
Why is Khosla Ventures ranked last despite roughly $15 billion in assets?
Which climate funds are in the market right now?
How much did climate funds raise in 2025?
Follow the money in the energy transition
Altss tracks every platform on this list — funds in market, leadership, and deal activity — alongside coverage of 30,000+ institutional investors, RIAs, and family offices.