Impax yesterday (9 July) agreed the acquisition of Climate Change Capital’s sustainable property fund business.
The property business comprises of a two person investment team and the management contract for the Climate Change Property fund, which is expected to complete its divestment activity and wind up during 2015.
The acquisition by the Aim quoted investment manager, which focuses on environmental markets and related resource efficiency sectors, comes as part of the company’s aim to establish further asset classes in order to broaden its offering to clients.
Impax’s assets under management reached £2,757m over the quarter ending 30 June.
The company continues to receive strong net inflows into its third party listed equity fund and accounts, the firm said.
Ian Simm, the chief executive of Impax, said:“Sustainable property is an attractive, resilient, real asset class. Increasingly strict building regulations are driving interest and demand for commercial property to be built or refurbished to higher environmental standards, and sustainable buildings typically attract premium rents.
We’re delighted to welcome Tim and Esme to Impax. Their track record of producing consistent returns and managing risk is impressive and we look forward to working with them to grow and diversify our offering to clients.”
The total AUM for Impax label listed equity funds at 31 March was £539m, for third party listed equity funds and accounts it was £1,633m and for private equity funds it was £376m, totalling £2,548m.
Net inflows into Impax label listed equity funds were £1m, into third party listed equity funds and accounts the inflow was £217m, totalling £218m.
