Impax reaches EUR-459m final close of 4th private markets fund

Impax Asset Management Group Plc (LON:IPX) has achieved the final close of its fourth private markets renewables-dedicated investment fund, securing EUR 459 million (USD 498.3m) in commitments.

The Impax New Energy Investors Fund IV (NEF IV) is Impax’s largest private markets fund, the sustainability-focused investor said on Wednesday. Its final close was achieved near the target size of USD 538 million, with the support of new and existing investors.

NEF IV targets infrastructure investments in commercially proven technologies such as onshore wind, solar photovoltaic (PV) and small-scale hydropower, as well as some decentralised generation and energy efficiency assets. The fund has a pan-European portfolio with select US exposure, consisting of 10 platform investments in six countries and five technologies.

NEF IV’s first close was achieved in October 2021. Its investor list includes pension funds, sovereign wealth funds, insurance companies, asset managers, and family offices.

“The market environment for investing in new energy infrastructure in Europe remains highly attractive,” said Daniel von Preyss, head of PE/Infrastructure at Impax. He noted that the European Union’s renewable energy ambitions have contributed to creating a favourable regulatory environment and that Impax is well-positioned to capitalise on these opportunities.

(EUR 1.0 = USD 1.086)

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