REG - Impax Asset Mgmnt - Acquisition of fixed income assets

Impax Asset ManagementAnnouncement

01/04/2025 12:30

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RNS Number : 1650D  Impax Asset Management Group plc  01 April 2025

Impax Asset Management Group plc

("Impax" or the "Company")

Completion of acquisition of European assets of SKY Harbor Capital Management

 

London, 1 April 2025 - Impax, the AIM-listed specialist investor focused on
the transition to a more sustainable economy, announces today that it has
closed its acquisition of the European assets of SKY Harbor Capital
Management, LLC ("SKY Harbor"), a high yield fixed income manager.

 

SKY Harbor, founded in 2011 and based in Greenwich, Connecticut, is a
specialist investment firm serving institutional investors, private wealth
advisers and multi-asset managers. With the completion of the transaction, SKY
Harbor's European-based assets, including funds and mandates targeting
short-duration high yield strategies, with assets under management and advice
of approximately £1.1 billion (US$1.4 billion) as at 28 February 2025, have
been acquired by Impax.

 

These strategies include the US Short Duration Responsible High Yield strategy
(launched in 2012) and the Global Short Maturity Responsible High Yield
strategy (launched in 2018), which are distributed to clients and investors
outside the United States. The strategies are available via the sub-funds of a
Luxembourg-based umbrella UCITS fund, which will be re-branded as "Impax"
funds and via separately-managed mandates. The sub- funds of the SKY Harbor
UCITS Fund comply with the transparency disclosure obligations under Article 8
of the European Union's Sustainable Finance Disclosures Regulation (SFDR). The
US Short Duration Responsible High Yield strategy has been awarded the SRI
Label as defined by the French Ministry of the Economy and Finance.

 

Seven SKY Harbor team members have joined Impax, including David Kinsley, SKY
Harbor's Head of Investing, and Stefan Balog, who co-manage the strategies.
The future distribution and client servicing of the strategies will be managed
by Impax's existing client teams.

 

Impax has also acquired Frankfurt-based SKY Harbor Capital Management GmbH as
part of the transaction, a regulated entity responsible for the cross-border
distribution of the strategies to clients and investors outside of the United
States.

 

Ian Simm, Founder and Chief Executive, Impax said: "The completion of this
transaction significantly furthers our strategy to build scale and
capabilities within fixed income. The SKY Harbor team's deep expertise and
track record in short-duration high yield investing will complement our
existing offering and enable us to offer our clients a wider range of
solutions within credit markets."

 

The SKY Harbor completion follows the acquisition in July 2024 of the assets
of Absalon Corporate Credit (''Absalon''), a Copenhagen-based fixed income
manager. With both acquisitions closed, Impax has total fixed income assets
under management and advice of approximately £2.6 billion as of 28 February
2025. The Impax fixed income investment team now includes c. 20 professionals,
offering strategies in US Core Bond, US Core Plus Bond, US High Yield, Global
High Yield, US Short Duration High Yield, Global Short Maturity High Yield,
and Emerging Markets Corporate Bond.

 

Further details about the agreement are set out in the Company's announcement
(https://impaxam.com/insights-and-news/press-releases/impax-to-acquire-european-based-high-yield-assets/)
as of 10 July 2024.

 

- Ends -

 

 Enquiries:
 Impax Asset Management Group plc
 Ian Simm, Chief Executive                                           +44 (0)20 3912 3000
 Paul French, Head of Corporate Communications p.french@impaxam.com  +44 (0)20 3912 3032
 (mailto:p.french@impaxam.com)
 Montfort Communications
 Gay Collins                                                         +44(0)77 9862 6282
 Jack Roddan impax@montfort.london (mailto:impax@montfort.london)    +44(0)78 2567 0695
 Peel Hunt LLP, Nominated Adviser and Joint Broker
 Andrew Buchanan                                                     +44 (0)20 7418 8900

 Dan Webster

 Oliver Jackson
 Berenberg, Joint Broker
 James Felix                                                         +44 (0)203 207 7800
 John Welch
 Dan Gee-Summons

 

About Impax Asset Management

 

Founded in 1998, Impax is a specialist asset manager, with approximately
£28.5 billion of assets under management as of 28 February 2025 in both
listed and private markets strategies, investing in 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.

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

 

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 UK, EU, US, Hong Kong, Canada, Japan and Australia. © Impax
Asset Management LLC, Impax Asset Management Limited and/or Impax Asset
Management (Ireland) Limited. All rights reserved.

 

 

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