Impax Group PLC
14 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 today
announced two successful fund raisings, taking the funds managed or advised by
its wholly owned subsidiary, Impax Asset Management Ltd ('IAM'), to over £400m.
Impax Environmental Markets plc
This morning, Impax Environmental Markets plc ('IEM'), an investment trust
listed on the London Stock Exchange ('LSE') that is managed by IAM, held an
Extraordinary General Meeting at which a vote was passed to issue £66 million of
subscriptions for C Shares. It is expected that these shares will begin trading
on 15 August. The addition of the C Shares will take the aggregate net assets
of IEM to over £190m, reinforcing the trust's position as the leading closed end
fund investing in the high growth environmental sector.
Impax New Energy Investors LP
Also today, IAM has announced that Impax New Energy Investors LP (the 'New
Energy Fund'), a limited partnership that invests in renewable energy projects
and associated infrastructure, predominantly in Western Europe, has reached its
target size of €125m before the Fund's first anniversary.
Keith Falconer, Impax Group's Chairman commented: 'Investors' appetite for
exposure to the alternative energy, water and waste sectors is building strongly
as they review the evidence of the fast growth in earnings that these sectors
can offer.'
Ian Simm, Impax Group's Chief Executive commented: 'Last summer, Impax had less
than £100m under management. With sustained, strong investment performance, we
have been able to attract several new investors to our products as well as
increase the commitments from many existing investors. With a scaleable business
model and committed team, we are well positioned to deliver value to our
customers 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