UniCredit, partnership with Apollo to offer Clean Transition Equity fund

UniCredit becomes the first Italian banking network to offer Apollo's Clean Transition Equity Eltif private equity fund to its clients after signing a business partnership with the U.S. alternative asset management group, a note said.

"The ACT Equity ELTIF is designed to offer investors access to private equity opportunities

focused on the transition to clean energy and sustainable industry," explains UniCredit, which will offer the product to wealth management and private banking clients.

"We believe private capital will play a major role in climate and transition-related investments," comments Veronique Fournier, head of Emea Global Wealth at Apollo.

According to Claudia Vacanti, head of Investment and Protection Products at UniCredit, the agreement with Apollo puts the bank "at the forefront of the new Eltif 2.0 regulation, which offers even more clients the opportunity to make long-term investments in the real economy through private assets that are less correlated to public markets."

(Valentina Za, editing Gianluca Semeraro)