Apollo launches $4 billion fund in clean energy push

April 26 (Reuters) - Apollo Global Management Inc (APO.N) has launched a $4 billion fund to invest in companies looking to transition to clean energy, the private equity giant said on Wednesday.

The fund, ACT Capital, is part of the $50 billion sustainable investment target Apollo set for itself last year.

Several private equity firms have been raising billions of dollars to expand their footprint in the clean energy space, amid calls for more companies to transition away from fossil fuels.

Wall Street has also been pressured by climate activists, who have been asking banks to commit to stopping funding for new fossil fuel projects.

Canada's Brookfield Asset Management (BAM.TO) raised $15 billion last year for it first impact fund focused on energy transition.

ACT Capital will invest in companies globally, Apollo said.

Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Krishna Chandra Eluri

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