Impax Asset Management Regulatory News (IPX)

22 Oct 2009 11:08



For immediate release

22 October 2009

Impax Group PLC

Impax Asset Management Group plc announces successful IPO of Impax Asian Environmental Markets plc with £104.5m of gross proceeds 

Impax Asset Management Group plc1 (the "Company"), the specialist environmental investment manager, is pleased to announce today that Impax Asian Environmental Markets plc ('the Fund') has raised gross proceeds of £104.5m in a Placing and Offer for Subscription. The Fund's investment manager is Impax Asset Management Limited, the Company's trading subsidiary.

The Fund is a new closed-ended investment trust formed to enable shareholders to benefit from the rapid and sustained growth anticipated from companies active in the environmental sector that are based in the Asia-Pacific region, particularly China, Japan, India, South Korea, Malaysia, Philippines, Thailand, Taiwan, Australia and New Zealand.

This successful IPO adds further to the Company's assets under management, which were c. £1.25 billion as of 30 September 2009 and have subsequently increased through a new mandate from a European institutional investor to manage up to €150m. 

Ian Simm, Chief Executive Officer of Impax, added: 

"We are delighted by the positive response Impax Asian Environmental Markets plc has received from investors. The successful IPO is further evidence of investor interest in environmental markets remaining high. With a strong track record, a highly qualified and committed investment team and powerful distribution partners, Impax is well positioned for further growth."

1 The name change from Impax Group plc to Impax Asset Management Group plc was approved by shareholders and is awaiting approval from Companies House

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Notes to editors 

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

Impax has a track record of delivering excellent returns across long only, private equity and hedge fund 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 manages a range of specialist own brand and white label funds. Impax Environmental Markets plc (IEM) is the UK's largest environmental markets fund and is in the FTSE 250 index.

In 2007, Impax and FTSE established a partnership to develop and manage the Environmental Markets Index Series. The indices in the series are derived from a database managed by Impax.

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

Impax has an award winning track record and most recently won the 2009 Financial News Award for Excellence in Institutional Asset Management as Sustainable Investment Manager of the Year.