Apollo Names Partner to Lead Its $100 Billion Climate Push

Private equity firm Apollo Global Management has tapped a partner in its infrastructure investment unit, Brad Fierstein, to lead investments and lending to clean energy businesses in areas like electric vehicles and solar panels, according to two people close to Apollo. The move comes as part of a broader leadership reshuffling at Apollo following the abrupt termination of Dylan Foo, former head of infrastructure, in August.

Launched in April last year, the climate program Fierstein will run aims to invest $100 billion by 2030 across the firm’s credit, equity and real assets segments, the latter of which includes infrastructure investments. Apollo also launched a $4 billion fund last April that invests in and lends to companies looking to transition into clean energy. That was followed by Apollo’s first-ever PE climate fund, launched in December.