Canada

Annesley Wallace will replace Berg as head of the C$109bn Canadian pension’s infrastructure group.

In addition to the $2.34bn raised, investors, which now include PSP Investments and the US development finance institution, will also have $3bn in co-investment rights.

The new platform will be led by former GE Capital MD Bob Psaradellis, while ex-Green Investment Bank CEO Shaun Kingsbury joins as chairman.

The Canadian firm has already made four seed investments from BID II, which it raised in a little over a year.

Albamen Capital Partners will invest in renewable energy and digital infrastructure, as well as 'other power-intensive infrastructure assets' in China.

Part of the funds will go towards the $2bn the firm is looking to invest in renewables and waste infrastructure in APAC over the next two years.

The firm's Global Transition Fund will invest in assets that will move the economy towards net-zero, including renewables, industrial businesses and infrastructure, chief executive Bruce Flatt said on the firm's Q3 2020 results call.

The Canadian pension has shown resilience during the pandemic, despite recording a 1% loss in the first half of the year, infrastructure chief Emmanuel Jaclot tells us.

The manager was originally targeting $1.75bn for its second mezzanine fund, expected to reach a final close as early as end of October.

Shah will oversee Brookfield’s push into new areas, such as insurance and secondaries, which together have a projected long-term value of up to $450 billion.