Global alternative investment manager Apollo has launched Apollo Clean Transition Capital, an investment strategy aimed at support firms’ clean energy transition.
According to ESG Today, ACT Capital is a a new investment strategy aimed at investing in companies to provide capital for their transition to clean energy and sustainable industry.
In addition, the new strategy is being launched with $4bn in capital from Apollo affiliates and strategic partners.
Apollo said the new strategy will provide “competitive, flexible, and patient financing,” through yield and hybrid investments targeting opportunities in areas including energy transition, industrial decarbonization, sustainable mobility, sustainable resource use, and sustainable real estate.
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 $50bn in clean energy and climate capital over five years and seeing the opportunity to deploy over $100bn by 2030.
So far, the platform has deployed more than $6bn, and Apollo said that the new strategy will work alongside the firm’s other strategies.
Apollo co-president Scott Kleinman said, “We believe ACT Capital is a premier financing solution for companies around the globe who require significant, flexible capital to support their energy transition efforts. We are thrilled to extend our long track record in this area and expand our commitment to driving a more sustainable future, recognizing the urgent need for climate capital deployment.”
Apollo recently set a goal to achieve $2bn in diverse spending by the end of 2025.
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