NEF II fundraise brings AUM t

RNS Number : 5900V

Impax Asset Management Group plc

04 November 2010

 



Impax Asset Management Group plc

Expansion of Private Equity fund,

New Danish client and AUM of £2.05 billion

London, 4 November 2010- Impax Asset Management Group plc, ("Impax"), the AIM listed investment manager focused on the environmental sector, today announcesthat its wholly owned subsidiary, Impax Asset Management Ltd ("IAM"), has received subscriptions for an additional €118m of capital commitments to its second private equity fund, Impax New Energy Investors II LP ("NEF II"). 

NEF II is focused on investment opportunities in independent power companies and projects in the renewable energy sector across the European Union.

Having already raised €141 million, as announced on 23rd March 2010, NEF II has now received total capital commitments of €259 million.

As part of this fundraising, Impax has committed to invest an additional €0.6 million in NEF II, taking its total commitments to this fund to €2.6 million.

Separately, Impax also announces that, following a competitive tender, IAM has been chosen by Danish pension fund Lønmodtagernes Dyrtidsfond ("LD") to manage a €75 million "Environment and Climate Equity" listed equity account.  LD has indicated that the account, which IAM will manage with support from BNP Paribas Investment Partners and Alfred Berg Asset Management, is expected to be funded in January 2011.

Including the total capital commitments to NEF II, but excluding the LD account, Impax now has approximately £2.05 billion of assets under discretionary and advisory management.

Ian Simm, Chief Executive of Impax, commented:

"I am strongly encouraged by the considerable and continued interest from institutional investors for both private equity and long-only investment strategies in environmental and renewable energy markets.  Investors clearly see these markets as having the potential to deliver excellent returns, and with Impax's strong track record and reputation in this field, we are optimistic for continued growth in our assets under management."

-Ends-

Enquiries:

Impax Asset Management Group plc

Keith Falconer, Chairman

Ian Simm, CEO                   020 7434 1122

Execution Noble

John Riddell                       0203 429 1426

Harry Stockdale

MHP Communications

Shona Prendergast             0207 786 4884         [e-mail]

                                      07798 626 284

Gay Collins                        0207 786 4882         [e-mail]

                                      07798 626 282

Notes to editors

Impax Asset Management Group plc (Impax):

Impax Asset Management is a leading specialist investment manager dedicated to the environmental sector. Founded in 1994, Impax manages a range of closed and open ended funds as well as segregated accounts on behalf of institutional and private investors.

Impax has a track record of delivering excellent returns across listed equity and private equity strategies. Key investment team members have been working together at Impax for over a decade and have spent the majority of their careers in the environmental sector.

Impax is a signatory to the UN Principles of Responsible Investment (UNPRI) and the Carbon Disclosure Project and is also a member of the Institutional Investors Group on Climate Change (IIGCC) and the Investor Network on Climate Risk (INCR).

 

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