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 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
employees1 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
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
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information provided on 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.