Impax Asset Management Group
Corporate brand
UnclaimedA London-based specialist asset manager focused on environmental markets and sustainable investment.
Last updated August 22, 2026
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Overview
Impax Asset Management Group plc is a specialist asset-management business headquartered in London, England. Founded in 1998 with support from the International Finance Corporation, the firm was established around the investment thesis that companies addressing resource scarcity and environmental pressures could represent attractive long-term investment opportunities. Its approach has generally centered on businesses connected with the transition toward more efficient and sustainable use of energy, water, materials and land. The group manages investment strategies and funds oriented toward environmental markets. Areas associated with its investment activity include renewable energy, water infrastructure and management, waste management, resource efficiency and other environmental technologies or services. Its offering has included listed-equity strategies as well as private-market and thematic investment vehicles. The firm has also managed listed-equity funds for third parties, including BNP Paribas. A notable product is Impax Environmental Markets, a strategy launched in 2002 with a mandate focused on environmental companies in North America, Europe and Asia. Impax has also managed private funds dedicated to new-energy investment, including Impax New Energy Investors, which closed at €125 million in 2006, and Impax New Energy Investors II, which closed at €330 million in 2011. These vehicles reflected the group's emphasis on renewable-energy and related environmental infrastructure before sustainable investing became a mainstream asset-management category. Impax expanded its North American capabilities through the acquisition of Pax World Management LLC. The group announced agreements to acquire the business in September 2017 and completed the transaction in January 2018. In December 2018, it announced plans to open an operation in Dublin to support clients in the European Union after the United Kingdom's withdrawal from the EU. The move illustrated the operational and regulatory adjustments required by Brexit for a UK-based investment manager serving European clients. The company is publicly listed in London under the ticker IPX.L. Its assets under management were reported at £20.2 billion as of 30 September 2020. The business remains exposed to the cyclical, policy and technology risks affecting environmental markets, including the renewable-energy sector. Solar and wind developers and related companies can be sensitive to interest rates, subsidy regimes, permitting conditions, supply-chain costs and changing capital-market preferences. Impax has also participated in public policy discussions about climate-related disclosure. It lobbied the U.S. Securities and Exchange Commission on disclosure of the locations of corporate assets, arguing that investors need better information to assess companies' exposure to environmental risks. The firm's research and investment perspective has been cited in discussions about the gap between concern over climate change and actual capital allocation to clean energy. Its investment activity has included less conventional environmental opportunities as well, such as support for Royal DSM, whose work included a feed additive intended to reduce methane emissions from cattle. Impax's positioning is therefore that of a specialist, sustainability-oriented investment manager rather than a generalist fund house. Its brand is associated with environmental-market expertise, thematic public equities, climate-related investment analysis and the management of funds for institutional and other investors. The available reference material does not establish a current executive roster, current assets under management, a complete fund catalogue or a current corporate website, so those details are left unspecified.
History
Impax Asset Management Group was founded in 1998 with support from the International Finance Corporation. From its beginning, the business was organized around investment in companies whose products or services could help address resource scarcity and environmental pressures. This gave Impax a specialist identity at a time when environmental investing was less established as a mainstream investment category. The firm developed strategies covering environmental markets, including renewable energy, water and waste management, resource efficiency and related technologies. Its listed-equity activities included Impax Environmental Markets, launched in 2002 and focused on environmental companies across North America, Europe and Asia. The group also built private new-energy vehicles. Impax New Energy Investors closed at €125 million in August 2006, followed by Impax New Energy Investors II at €330 million in August 2011. Impax later broadened its platform through international expansion and corporate transactions. On 18 September 2017, the group announced agreements to acquire 100% of Pax World Management LLC. The transaction was completed on 18 January 2018 and strengthened the group's sustainable-investment capabilities and North American reach. In December 2018, Impax announced that it would open an operation in Dublin. The proposed presence was intended to help the firm continue serving clients after Brexit and reflected the regulatory and operational consequences of the UK's departure from the European Union. The company also faced governance criticism in 2018. At the May 2018 shareholder meeting, 23.7% of shareholders voted against the reappointment of EY as auditor. The Investment Association subsequently criticized Impax over an apparent lack of auditor independence. The available reference does not establish the eventual long-term outcome of that dispute, but it made audit governance a notable issue in the group's corporate history. Impax's investment work has included both mainstream environmental infrastructure and more specialized opportunities. Its research has examined investor responses to climate risk and the relatively limited proportion of investors sufficiently concerned about climate change to allocate capital to clean energy. The company also lobbied the U.S. Securities and Exchange Commission for stronger disclosure concerning the locations of corporate assets, arguing that better geographic information would help investors evaluate environmental exposure. The group has reported exposure to the risks affecting renewable-energy developers, particularly in solar and wind. Such risks can include changes in policy support, financing conditions, technology economics and project execution. Its environmental investment universe has nevertheless extended beyond conventional renewable-energy businesses. One example cited in reference material is support for Royal DSM, a Dutch chemical company associated with a feed additive designed to reduce methane emissions from cattle. Impax was a publicly listed London asset manager by 2020 and reported assets under management of £20.2 billion at 30 September 2020. BNP Paribas was one of its largest institutional shareholders, holding a reported 28% stake before selling more than 40% of its shareholding in November 2020. The available materials do not provide a reliable current executive list, current assets under management, complete ownership information or a current website. Impax is best characterized as a specialist sustainable-investment group whose history combines environmental-market investing, international expansion, fund management and engagement with climate-related financial disclosure.
- 2020
Assets under management reported at £20.2 billion
[1]The group reports assets under management of £20.2 billion at 30 September 2020.
- 2018
Pax World Management acquisition completed
[1]The acquisition is completed on 18 January 2018.
- 2018
Dublin operation announced
[1]Impax announces a Dublin operation intended to serve clients after Brexit.
- 2017
Pax World Management acquisition announced
[1]Impax announces agreements to acquire all of Pax World Management LLC.
- 2011
Second new-energy fund closes
[1]Impax New Energy Investors II closes at €330 million.
- 2006
First new-energy fund closes
[1]Impax New Energy Investors closes at €125 million.
- 2002
Impax Environmental Markets launches
[1]The group launches an environmental-markets strategy focused on companies in North America, Europe and Asia.
- 1998
Impax is founded
[1]The business is established with support from the International Finance Corporation to invest in companies addressing resource scarcity and environmental challenges.
Products and positioning
A specialist asset manager focused on environmental markets, resource efficiency and sustainable investment themes.
Environmental-market listed equity fund · 2002
Impax Environmental Markets
Launched in 2002, this strategy focuses on listed companies involved in environmental markets across North America, Europe and Asia. The investment universe is associated with areas such as renewable energy, water, waste management and resource efficiency. It represents one of the clearest expressions of Impax's thematic approach to sustainable investing.
Private new-energy investment fund
Impax New Energy Investors
A private fund focused on new-energy investment. The vehicle closed at €125 million in August 2006 and formed part of Impax's early effort to invest in renewable-energy and related infrastructure opportunities.
Private new-energy investment fund
Impax New Energy Investors II
The second fund in Impax's new-energy series, focused on investment opportunities connected with the transition to cleaner energy. It closed at €330 million in August 2011.
Controversies
Brand decisions
2018
Establishment of a Dublin operationStrategyBackground
Brexit created uncertainty for UK-based financial firms serving clients in the European Union.
Action taken
Impax announced plans to open an operation in Dublin.
Aftermath
The planned operation was intended to support continued service to clients after the UK's withdrawal from the European Union.
2017
Agreement to acquire Pax World ManagementM&ABackground
Impax sought to expand its sustainable-investment platform and international client capabilities through the acquisition of Pax World Management LLC.
Action taken
The group announced agreements to acquire 100% of Pax World Management LLC.
Aftermath
The acquisition was completed on 18 January 2018.
Sources1 sources
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