Sustainable investment focused fund house Impax Investment Management has completed its acquisition of Pax World Management.
The deal was first announced in September, and in its update to the market last week the company said it would issue new shares to fund the acquisition of Pax World.
In an announcement to the stock exchange this morning (19 January), the company confirmed that the 2,665,989 shares required were issued on 18 January and so the acquisition has been completed.
The combined company will have assets under management of £11.3bn, with offices in the UK, US and Hong Kong.
In an update to the market on 9 January Impax said its assets under management (AUM) grew by 13 per cent in the three months to December 31, excluding any assets acquired as part of the takeover of Pax.
Impax AUM at the end of December 2017 was £8.2bn.
David.Thorpe@ft.com
