Apollo’s Clean Transition Equity ELTIF (ACT Equity ELTIF) will be made available to UniCredit‘s wealth management and private clientele in Italy.

With an emphasis on the shift to sustainable industries and clean energy, the ACT Equity ELTIF is intended to provide European affluent investors with access to private equity possibilities.

UniCredit’s distribution signals the fund’s initial availability to investors in Italy.

Apollo’s head of EMEA global wealth Veronique Fournier said: “We believe private capital will play a leading role in climate- and transition-related investing, and through this distribution partnership, are excited to provide Italian wealth investors with access to the ACT Equity strategy for the first time. This announcement builds on our continued European expansion and underscores our focus of bringing what we believe are institutional-quality private market strategies to eligible individuals and their wealth advisers.”

Claudia Vacanti, head of group investment and protection products at UniCredit stated: “By partnering with Apollo, a global leader in alternative asset management, we are consistently pursuing our strategy, bolstering our offering with a compelling solution focused on what will be the defining theme of the coming years: energy transition. Moreover, we are at the vanguard of the new ELTIF 2.0 regulation, giving an even larger number of clients the possibility to make tangible, long-term investments in the real economy via private assets less correlated with public markets.”

Renato Miraglia, head of wealth management and private banking Italy at UniCredit added: “We are proud to be the first to distribute ACT Equity ELTIF in Italy, innovating our offering and responding to client demand for dedicated investment solutions. The Fund gives our wealth and private clients unique opportunities to diversify their portfolios with investments in private equity, benefitting from Apollo’s international experience, especially in the North American market.

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Andrea Moneta, senior adviser for Italy, and Apollo operating partner, said: “UniCredit is known for its innovative leadership in wealth management. As Apollo continues to expand its presence in Italy, we are delighted to deepen our relationship with UniCredit Group and work together to offer differentiated private market strategies to help meet clients’ long-term return and diversification needs.”

Clients served by UniCredit’s wealth management and private banking networks in Italy can subscribe to the ACT Equity ELTIF beginning 30 January 2024, with launches in other UniCredit territories expected in the coming months.