Business
NEF II fundraise brings AUM t
NEF II fundraise brings AUM t.
About this update from Impax Asset Management Group Plc
[{"type":"text","content":"\n RNS Number : 5900V Impax Asset Management Group plc 04 November 2010 \n \n\n \nImpax Asset Management Group plc\n \nExpansion of Private Equity fund, \nNew Danish client and AUM of £2.05 billion\n \n \nLondon, 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\"). \n \nNEF II is focused on investment opportunities in independent power companies and projects in the renewable energy sector across the European Union.\n \nHaving already raised €141 million, as announced on 23rd March 2010, NEF II has now received total capital commitments of €259 million. \n \nAs 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.\n \nSeparately, 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.\n \nIncluding 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.\n \nIan Simm, Chief Executive of Impax, commented:\n \n\"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.\" \n \n-Ends-\n \nEnquiries:\n \nImpax Asset Management Group plc\nKeith Falconer, Chairman\nIan Simm, CEO &...