Global alternative investment manager Apollo announced today the launch of Global alternative investment manager Apollo announced today the launch, a new fund aimed at offering European wealth investors with access to clean energy and sustainable industry-focused private equity investment opportunities.

European Long-term Investment Fund, or ELTIFs, are investment vehicles designed to enable investors to invest in companies and projects that require long-term capital, such as infrastructure projects.

Olivia Wassenaar, Apollo’s Head of Sustainability and Infrastructure, said:

“The launch of ACT Equity ELTIF reinforces our commitment to invest in the clean energy transition and ability to deploy capital at scale across sectors and strategies. We’re thrilled to expand access to our strategy, which will offer eligible investors in Europe the ability to participate in what we view as a generation-defining opportunity to address climate change.”

The launch of ACT Capital follows the establishment last year by Apollo of a sustainable investing platform focused on financing and investing in the energy transition and decarbonization of industry, with the firm setting a goal to deploy $50 billion in clean energy and climate capital over five years, and seeing the opportunity to deploy over $100 billion by 2030. Apollo noted that its funds have invested $23 billion into energy transition and sustainability-related investments over the past five years.

Veronique Fournier, Managing Director and Head of EMEA Global Wealth at Apollo, said:

“This marks another important milestone as we scale the solutions offered through our Global Wealth business to help meet the needs of European investors. This new offering will broaden access to private markets while offering exposure to thematic climate and transition private equity investments that we believe our clients seek.”