Impax Asset Management Regulatory News (IPX)

14 Aug 2006 11:59

Impax Group PLC14 August 2006 Impax Group plc announces Funds Under Management rise to over £400m following two successful fund raisings Impax Group plc, the AIM listed investment management company, has todayannounced two successful fund raisings, taking the funds managed or advised byits wholly owned subsidiary, Impax Asset Management Ltd ("IAM"), to over £400m. Impax Environmental Markets plc This morning, Impax Environmental Markets plc ("IEM"), an investment trustlisted on the London Stock Exchange ("LSE") that is managed by IAM, held anExtraordinary General Meeting at which a vote was passed to issue £66 million ofsubscriptions for C Shares. It is expected that these shares will begin tradingon 15 August. The addition of the C Shares will take the aggregate net assetsof IEM to over £190m, reinforcing the trust's position as the leading closed endfund investing in the high growth environmental sector. Impax New Energy Investors LP Also today, IAM has announced that Impax New Energy Investors LP (the "NewEnergy Fund"), a limited partnership that invests in renewable energy projectsand associated infrastructure, predominantly in Western Europe, has reached itstarget size of €125m before the Fund's first anniversary. Keith Falconer, Impax Group's Chairman commented: "Investors' appetite forexposure to the alternative energy, water and waste sectors is building stronglyas they review the evidence of the fast growth in earnings that these sectorscan offer." Ian Simm, Impax Group's Chief Executive commented: "Last summer, Impax had lessthan £100m under management. With sustained, strong investment performance, wehave been able to attract several new investors to our products as well asincrease the commitments from many existing investors. With a scaleable businessmodel and committed team, we are well positioned to deliver value to ourcustomers and generate future growth for the Group." For more information, please contact: Keith Falconer (Chairman, Impax Group plc) - 07747 066637 Ian Simm (Chief Executive, Impax Group plc) - 07802 758171 Ben Money-Coutts (Managing Director, Bridgewell Limited) - 020 7003 3000 This information is provided by RNS The company news service from the London Stock Exchange