BNP Paribas Investment Partners buys a 28.3% stake in Impax Group PLC
December 19 2007
Parties to further develop their existing partnership to manage and distribute funds investing in the environmental sector
Paris – London, 19 December 2007 – BNP Paribas Investment Partners (“BNPP IP”), a leader in the European asset management industry, and Impax Group plc, the quoted investment manager focusing on the environmental markets sector ("Impax") announce that, following the publication earlier today of Impax’s Preliminary Statement of Results, BNP Paribas Investment Partners* has acquired from existing Impax shareholders 31 million ordinary shares, corresponding to 28.31 percent of Impax’s issued share capital and increasing its total holding to 29.42 percent.
Impax and BNP Paribas Investment Partners initiated their cooperation in May 2006, when Impax started advising BNPP IP’s “Parworld Environmental Opportunities" fund. It has since developed further, with Impax providing advisory services to two funds initiated by BNP Paribas Investment Partners targeted at clients in Korea and Malaysia, and, today, with a further agreement under which BNPP IP will distribute in parts of Europe, Asia-Pacific and the Middle East, products that are managed or advised by Impax.
Gilles Glicenstein, Head of BNP Paribas Investment Partners, said: “The acquisition of a minority stake in Impax is a natural extension of a cooperation started 18 months ago. Impax’s core activity is focused in a key area of development for our clients and BNPP IP. We are convinced that this new step will reinforce our capacity to deliver state-of-the-art expertise in a fast growing market.”
Ian Simm, Chief Executive of Impax Group plc, said: “Impax is now established as a leading investment manager in the rapidly expanding environmental sector. We are delighted to be able to extend our relationship with BNP Paribas Investment Partners, and I believe that both parties are set to benefit significantly from closer co-operation.”
* acting through the holding company BNP PAM
Group
About BNP Paribas Investment Partners
BNP Paribas Investment Partners brings together the full palette of
asset management expertise of the BNP Paribas group. Through a
unique platform that offers immediate and simplified access to a
broad range of specialist Partner companies BNP Paribas Investment
Partners has become a leader among the multi-specialist asset
managers. At 30 September 2007, assets under management were EUR
348 billion*, nearly half of which managed for institutional
clients. With 2,000 professionals servicing clients in over 70
countries, the network of Partners provides clients with the most
advanced and dedicated expertise in asset management today,
blending excellence in client service with innovative solutions
that can highlight or combine specialities.
* assets under advisory included
About Impax Group PLC
Impax was founded in
1994 as a specialist finance house focusing on the markets for
cleaner or more efficient delivery of basic services of energy,
water and waste. These markets are expanding rapidly, as business
and political leaders encourage the development of cleaner products
and services in response to the increasing pressures placed on the
environment. Impax's dedicated team of professionals, with many
years of experience in the financial and environmental sectors, is
ideally placed to understand and take advantage of the investment
opportunities arising from these growing markets. Acting through
its wholly owned subsidiary Impax Asset Management Ltd, Impax
manages or advises over US $2 billion of assets as at 14 December
2007 for institutional and private investors, across a range
of listed and private equity funds. Impax is listed on the
Alternative Investment Market of the London Stock Exchange.
For further information please contact:
Impax Group plc
Tom Whitehouse, Carbon
International (Public Relations)
+ 44 (0) 20 7483 7201
+44 (0) 7989 333542
BNP Paribas Investment Partners
Sandrine
Romano
+ 33 (0)1 58 97 74 49
BNP Paribas
Céline Castex
+ 33 (0)1 42 98 15 91
