Impax closes NEF II at €330m

The UK-based vehicle aims to exploit investment opportunities within the renewable power generation sector.

Impax NEF II held first close in March 2010 at €141m and second close in November at €259m. The firm expected to raise between €300-400m.

The fund will have a standard 10-year lifespan with fees and hurdle described as in line with market standards. Acanthus Advisers acted as placement agent, with O'Melveny & Myers acting as legal advisers to the investor and fund.

Impax’s previous fund, Impax New Energy Investors, was closed at €125m in August 2006.

Investors
Impax NEF II has attracted support from a number of existing and new investors, including British Airways Pension Fund, West Midlands Pension Fund, London Pensions Fund Authority, Cooperative Insurance Society and the European Investment Bank.

Investments
NEF II invests in independent power companies and projects in the renewable energy sector across the European Union. The fund will inject between €20-60m into around 10-15 investments during its lifespan.

Impax has made three investments for the fund in the wind and solar sectors and it expects further deals to be done this year.

People
Managing partner Peter Rossbach manages the fund.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Funds
• UK / Ireland
• France
• Nordics
• Southern Europe
• CEE
• Benelux
• Cleantech
• Impax Asset Management