UniCredit becomes the first bank in Italy to offer the ACT Equity ELTIF and one of the first in Europe to provide its clients with investment solutions according the new ELTIF 2.0 directive
UniCredit has today announced that it will begin distributing Apollo's (NYSE: APO) Clean Transition Equity ELTIF ("ACT Equity ELTIF" or the "Fund") to its wealth management and private clients in Italy.
The ACT Equity ELTIF is designed to offer European wealth investors access to private equity opportunities focused on the transition to clean energy and sustainable industry.
Distribution by UniCredit marks the first time the Fund will made available 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 advisors."
Claudia Vacanti, Head of Group Investment and Protection Products at UniCredit said, "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 said, "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."
Andrea Moneta, Senior Advisor 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 starting from January 30th, 2024, while launches in other UniCredit regions are to follow in the coming months.
Milan, 29 January 2024
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