RCS - Impax Asset Mgmnt - Acquisition of fixed income assets

Impax Asset ManagementAnnouncement

12/07/2024 12:00

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RNS Number : 2490W  Impax Asset Management Group plc  12 July 2024

Impax Asset Management Group plc completes acquisition of fixed income assets
of Absalon Corporate Credit

 

London, 12 July 2024 - Impax Asset Management Group plc ("Impax" or the
"Company"), the specialist asset manager investing in the transition to a more
sustainable economy, announced today that it has closed its acquisition of the
assets of Absalon Corporate Credit ("Absalon"), a Copenhagen-based fixed
income manager.

Absalon, which was formerly part of the Formuepleje Group, serves European
institutional investors and Danish high net worth individuals, and as of 30
June 2024 had approximately £355 million of assets under management. With the
completion of the acquisition, Absalon's Global High Yield and Emerging Market
Corporate Debt strategies become part of Impax's fixed income range, with
funds available on Impax's Irish-based UCITS platform.

Senior Portfolio Managers, Klaus Blaabjerg, Sune Højholt Jensen, Toke Katborg
Hjortshøj and Peter Dabros have joined Impax and will establish a new office
for the Company in Copenhagen.

Further details about the agreement are set out in the Company's announcement
(https://impaxam.com/insights-and-news/press-releases/impax-to-acquire-fixed-income-assets-and-expand-portfolio-management-team-in-agreement-with-copenhagen-based-formuepleje/)
of 9 January 2024.

Ian Simm, Founder and Chief Executive, Impax said: "We are pleased to welcome
Absalon's experienced team of credit managers and to expand our fixed income
offering further with the addition of these two strategies. This marks the
first time that we will be offering fixed income solutions to our clients
outside North America, including via our UCITS platform."

Earlier this week Impax announced that it had entered into an agreement to
acquire the European assets of SKY Harbor Capital Management LLC ("SKY
Harbor"), a fixed income manager. The agreement relates to the promotion,
distribution and management of SKY Harbor's European-based funds and mandates
principally targeting short-duration high yield strategies. The completion of
the agreement is subject to certain closing terms and conditions.

Post the completion of the SKY Harbor and Absalon acquisitions, Impax will
have total pro-forma fixed income assets under management and advice of
approximately £3.1 billion (US$4.0 billion) as of 30 June 2024. The Impax
fixed income investment team will include c. 20 professionals, offering
strategies in US Core Bonds, US Core Plus Bonds, US High Yield, Global High
Yield, US Short Duration High Yield, Global Short Maturity High Yield and
Emerging Market Corporate Debt.

About Impax

Founded in 1998, Impax is a specialist asset manager, with assets under
management of approximately £36.9 billion as of 30 June 2024 in both listed
and private markets strategies, investing in the opportunities arising from
the transition to a more sustainable global economy.

Impax believes that capital markets will be shaped profoundly by global
sustainability challenges, including climate change, pollution and essential
investments in human capital, infrastructure and resource efficiency. These
trends will drive growth for well-positioned companies and create risks for
those unable or unwilling to adapt.

The company seeks to invest in higher quality companies with strong business
models that demonstrate sound management of risk. Impax offers a well-rounded
suite of investment solutions spanning multiple asset classes seeking superior
risk-adjusted returns over the medium to long term.

Impax has approximately 300 employees(1) across its offices in the United
Kingdom, the United States, Ireland, Denmark, Hong Kong and Japan, making it
one of the investment management sector's largest investment teams dedicated
to sustainable development.

www.impaxam.com (http://www.impaxam.com)

(1) Full-time equivalent.

 

Contact

Montfort
Communications
Impax@montfort.london

Jack Roddan / Gay
Collins                                 +44
782 567 0695 / +44 779 862 6282

 

Issued in the UK by Impax Asset Management Group plc, whose shares are quoted
on the Alternative Investment Market of the London Stock Exchange.  Impax
Asset Management Group plc is registered in England & Wales, number
03262305.  AUM relates to Impax Asset Management Limited, Impax Asset
Management (AIFM) Limited, Impax Asset Management Ireland Limited and Impax
Asset Management LLC.  Impax Asset Management Limited and Impax Asset
Management (AIFM) Limited are authorised and regulated by the Financial
Conduct Authority and are wholly owned subsidiaries of Impax Asset Management
Group plc.  Please note that the information provided on www.impaxam.com
(http://www.impaxam.com/) and links from it should not be relied upon for
investment purposes.

Impax is trademark of Impax Asset Management Group Plc. Impax is a registered
trademark in the EU, US, Hong Kong and Australia. © Impax Asset Management
LLC, Impax Asset Management Limited and/or Impax Asset Management (Ireland)
Limited. All rights reserved.

 

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