O’Melveny Represents Impax Asset Management in Final Closing of Second Clean Tech FundSeptember 28, 2011
FOR IMMEDIATE RELEASE
Andrea Rodeschini Piper Hall
O’Melveny & Myers LLP O’Melveny & Myers LLP
LONDON ─ SEPTEMBER 28, 2011 ─ O'Melveny & Myers LLP represented Impax Asset Management Ltd on the establishment of its second private equity fund, Impax New Energy Investors II LP. The Fund, which focuses on renewable energy, recently held its final close raising a total of €330 million.
The team from O'Melveny was led by Investment Funds & Securitization partners Solomon Wifa and John Daghlian, along with associate Angela Yung.
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The following press release was issued by Impax:
Final close of private equity fund with €330m of capital committments
September 27 2011
Impax Asset Management Ltd ("Impax"), the specialist environmental investment company, announces the successful close of its second private equity fund, Impax New Energy Investors II (“Impax NEF II” or “the Fund”), at €330 million.
The Fund aims to exploit the significant investment opportunities within the rapidly expanding renewable power generation sector.
Ian Simm, Impax’s Chief Executive, commented: “It is now five years since the final close of our first private equity fund, and the investment climate for renewable energy continues to be very attractive. The success of this fundraising reflects the strong interest that institutional investors have in the stable, long-term cash flows produced by renewable energy projects.
Investors in Impax NEF II include major UK pension funds and the European Investment Bank.
The Fund’s investment team is led by Peter Rossbach, Managing Director, who has 20 years' experience financing projects in the sector. Peter Rossbach commented: "The team has already made three investments for the Fund in the wind and solar sectors and we expect further investments to be made this year. We are grateful for the support of our returning and new investors."
For further information, please contact:
Impax Asset Management Ltd
Ian Simm, Chief Executive – 020 7434 1122
Peter Rossbach, Managing Director – 020 7434 1122
Shona Prendergast - 0207 786 4884/07798 626 284
Gay Collins - 0207 786 4882/07798 626 282
Notes to Editors
Impax is one of the longest established private equity fund managers in the large and rapidly growing renewable energy sector. The firm manages two private equity infrastructure funds that have been funded by high quality institutional investors. The funds follow an operationally focused, value-add strategy, investing in renewable power generation and related assets.
Founded in 1998, Impax has a track record of delivering excellent returns from both listed and private equity strategies and now manages over £2 billion across a range of funds and segregated accounts for an extensive “blue chip” client list. Impax’s holding company, Impax Asset Management Group plc, is quoted on the Alternative Investment Market of the London Stock Exchange.