Business
Funds Raised
Funds Raised.
About this update from Impax Asset Management Group Plc
[{"type":"text","content":"\n Impax Group PLC\n14 August 2006\n\n\n Impax Group plc announces Funds Under Management rise to over £400m following\n two successful fund raisings\n\nImpax Group plc, the AIM listed investment management company, has today\nannounced two successful fund raisings, taking the funds managed or advised by\nits wholly owned subsidiary, Impax Asset Management Ltd ('IAM'), to over £400m.\n\nImpax Environmental Markets plc\n\nThis morning, Impax Environmental Markets plc ('IEM'), an investment trust\nlisted on the London Stock Exchange ('LSE') that is managed by IAM, held an\nExtraordinary General Meeting at which a vote was passed to issue £66 million of\nsubscriptions for C Shares. It is expected that these shares will begin trading\non 15 August. The addition of the C Shares will take the aggregate net assets\nof IEM to over £190m, reinforcing the trust's position as the leading closed end\nfund investing in the high growth environmental sector.\n\nImpax New Energy Investors LP\n\nAlso today, IAM has announced that Impax New Energy Investors LP (the 'New\nEnergy Fund'), a limited partnership that invests in renewable energy projects\nand associated infrastructure, predominantly in Western Europe, has reached its\ntarget size of €125m before the Fund's first anniversary.\n\nKeith Falconer, Impax Group's Chairman commented: 'Investors' appetite for\nexposure to the alternative energy, water and waste sectors is building strongly\nas they review the evidence of the fast growth in earnings that these sectors\ncan offer.'\n\nIan Simm, Impax Group's Chief Executive commented: 'Last summer, Impax had less\nthan £100m under management. With sustained, strong investment performance, we\nhave been able to attract several new investors to our products as well as\nincrease the commitments from many existing investors. With a scaleable business\nmodel and committed team, we are well positioned to deliver value to our\ncustomers and generate future growth for the Group.'\n\nFor more information, please contact:\n\nKeith Falconer (Chairman, Impax Group plc) - 07747 066637\n\nIan Simm (Chief Executive, Impax Group plc) - 07802 758171\n\nBen Money-Coutts (Managing Director, Bridgewell Limited) - 020 7003 3000\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange \n ","length":2568,"tagName":"div"}]