Impax's 3rd reaches final close of EUR 357m

The third fund managed by sustainability-focused investor Impax Asset Management Group Plc (LON:IPX) has held its final closed on May 31 and now controls EUR 357 million (USD 422m) worth of assets.

The fund, Impax New Energy Investors III (NEFIII), has already made investments in Germany, France and Norway, the London-based company says in its interim report for the six months to March 31, 2018. It will draw down capital for those fresh investments over the next two to three years.

Impax’s three private equity infrastructure funds focus their investments on renewable power generation and related assets. The second one, Impax New Energy Investors II (NEF II), has now signed or closed exits to realise more than 95% of the total value of the portfolio, the company said.

NEF II’s recent asset sales involve an Italian solar photovoltaic (PV) business, another tranche of the company’s French onshore wind development and an Irish wind park, according to the interim report.

(EUR 1.0 = USD 1.182)

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