Impax Asset Management

What Impax Asset Management does

Impax Asset Management is a London-headquartered specialist asset manager founded in 1998 by Ian Simm, focused exclusively on investments tied to the transition to a more sustainable economy. The firm operates across listed equities, fixed income, and private markets, serving institutional investors (pension funds, sovereign wealth funds, endowments, foundations), wholesale intermediaries, and retail investors across Europe, North America, and Asia-Pacific. It is listed on the London Stock Exchange's AIM market under ticker IPX and operates through wholly-owned subsidiaries in the UK, US, Ireland, Hong Kong, and Japan.

The product suite spans ten US mutual funds, one US-listed ETF (BLDX, launched February 2026), and approximately fifteen institutional strategies organised across thematic equities (environmental markets, water, climate, sustainable food, global social leaders, gender lens), sustainability-lens equities (global opportunities, US large and small cap), fixed income (core bond, core plus, US and global high yield, emerging market corporate debt, short duration strategies), and multi-asset solutions. The investment process is underpinned by proprietary analytical tools including the Impax Sustainability Lens, Corporate Resilience Analysis, Issuer Resilience Analysis, Climate Opportunities Taxonomy, Impax Gender Score, and Impax Corporate Culture Indicator, supported by an in-house Sustainability Centre.

Revenue is generated primarily through recurring management fees on assets under management — with disclosed maximum rates ranging from 0.34% (Water Strategy) to 1.10% (Specialists Strategy) — plus performance fees on select accounts. Distribution is multi-channel: direct institutional sales via the Client Partnerships team led by Ed Farrington, UCITS structures managed through Impax Asset Management Ireland, ETF distribution in the US, regional partners including Fidante Partners in Australia and New Zealand, and intermediary platforms via Foreside Financial Services. The firm maintains offices in London, New York, Portsmouth (NH), Dublin, Hong Kong, Tokyo, Køge, and Frankfurt.

Name

Impax Asset Management

Legal name

Impax Asset Management LLC

Website

https://impaxam.com

Company type

Public

Founded year

1998

Operating status

Operating

Headcount range

251–500 employees

Short description

Impax Asset Management is a London-based specialist asset manager, founded in 1998, that invests across listed equities, fixed income, and private markets on behalf of institutional and wholesale clients pursuing the transition to a more sustainable economy.

Ownership category

akta.pro rank

Product category

Sustainable Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Open-End Investment Funds (525910)

SIC

Investment Advice (6282)

akta.pro primary industry

Sustainable/ESG Equity (Active) (FSAAAIAM)

akta.pro secondary industries

Multi-Asset ESG / Sustainable Allocation Strategies (FSAAAJAK), ESG/Sustainable Investment Advisory (FSAEAAAJ), Managed Accounts & Unified Managed Accounts (UMAs) — Multi-Asset (FSAAAJAE)

Keywords

• Sustainable asset management
• ESG investment strategies
• Thematic equity funds
• Fixed income management
• Institutional investment management

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices8 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Asset Management Fees: Impax generates revenue primarily through management and advisory fees charged on assets under management (AUM). Fees are calculated as a percentage of AUM across listed equities, fixed income, and private markets strategies. Fee rates vary by strategy, with publicly disclosed maximum rates ranging from 0.34% to 1.10% annually for various equity strategies and fixed income strategies. As AUM has declined from £41.4 billion peak to approximately £22-24 billion, revenue has come under pressure.
2. Performance Fees / Incentive Fees: Some Impax strategies include performance fees. For example, the Global Opportunities Composite includes a performance fee of 17% of the excess return over the benchmark for one account within the strategy. The US Large Cap Composite includes a performance fee of 16.2% of the excess return over the benchmark for one account.
3. Distribution / Referral Fees: Impax generates revenue through distribution partnerships where partners such as Fidante Partners distribute Impax funds in exchange for revenue sharing or distribution fees in Australia and New Zealand.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels8 records

Core offering

Impax Asset Management is a specialist asset manager focused on the transition to a more sustainable economy. It manages approximately £22.3 billion in assets across listed equities, fixed income, and private markets through mutual funds, ETFs, and institutional mandates. The firm employs around 100 investment professionals and offers thematic strategies spanning environmental markets, water, climate, sustainable food, gender leadership, and sustainability-themed fixed income.

Product overview

Impax Asset Management is a specialist investment firm focused on the transition to a more sustainable economy, offering a comprehensive suite of investment products across multiple asset classes. The product lineup includes 10 mutual funds covering US and global equities, fixed income, and multi-asset strategies; 1 ETF (Impax Global Sustainable Infrastructure ETF/BLDX); and approximately 15+ listed equities and fixed income strategies. The firm specializes in thematic environmental investing, sustainability lens equities, gender lens investing, and systematic sustainable economy strategies, with offerings ranging from small/mid-cap specialists to large-cap core strategies, and from investment grade bonds to high yield and emerging market debt. Products are organized into thematic equities (Leaders, Specialists, Climate, Water, Sustainable Food, Global Social Leaders), sustainability lens equities (Global Opportunities, US Large Cap, US Small Cap), fixed income (Core Bond, Core Plus Bond, US High Yield, Global High Yield, Emerging Markets Corporate Bond, and Short Maturity strategies), and systematic/quantitative strategies (US and International Sustainable Economy).

Differentiator

Problem solved

Functional benefit

Brands

• Impax Funds: Mutual funds focusing on investment risks and opportunities arising from the transition to a more sustainable global economy
• Impax Sustainability Centre
• BLDX

Products and services

• Impax Large Cap Fund A core equities mutual fund focused on US large cap companies with strong prospects and attractive valuations, fully integrating analysis of sustainability risks and opportunities. For US investors and advisors.
• Impax Small Cap Fund A core equities mutual fund focused on risk management and identifying high quality US small cap companies with fair valuations through sustainability lens analysis. Won the Sustainability 2025 Asset Manager Award.
• Impax Global Opportunities Fund A high conviction, low turnover equity mutual fund positioned to achieve long-term capital growth through investments in the transition to a more sustainable global economy. Includes performance fee of 17% of excess return over benchmark for one account.
• Impax Global Environmental Markets Fund A long only all-cap equities mutual fund investing globally in companies providing innovative solutions to resource efficiency and environmental challenges. Part of the Leaders Strategy with ≥20% revenue from environmental markets.
• Impax Global Women's Leadership Fund A systematic, global large cap mutual fund strategy that seeks to invest in companies that advance gender diversity and equity, using the proprietary Impax Gender Score. Outperformed MSCI World Index for one-, three-, and five-year periods ending September 30, 2019.
• Impax US Sustainable Economy Fund A systematic mutual fund strategy investing in US companies positioned to benefit from the transition to a more sustainable economy.
• Impax International Sustainable Economy Fund A systematic mutual fund strategy investing in non-US developed markets companies positioned to benefit from the transition to a more sustainable economy. Received Morningstar Four Stars rating out of 657 Foreign Large Blend Funds.
• Impax Core Bond Fund A core bond mutual fund providing broad, diversified exposure across a range of investment grade credit sectors, delivering a single solution fixed income portfolio targeting attractive income and total returns.
• Impax High Yield Bond Fund A diversified high yield mutual fund that seeks high current income and capital appreciation by investing in a diversified portfolio of predominantly high yield securities.
• Impax Sustainable Allocation Fund A multi-asset mutual fund utilizing a dynamic, risk-focused asset allocation approach and diversifying across a broad range of Impax strategies.
• Impax Global Sustainable Infrastructure ETF (BLDX) An exchange-traded fund providing exposure to listed companies involved in clean energy, digital infrastructure, and water and waste management. Converted from mutual fund in February 2026 to provide intraday trading and tax efficiency for US investors.
• Specialists Strategy A long-only global equities strategy investing in small and mid-cap environmental services and technology companies with ≥50% revenue from environmental markets. Maximum annual management fee 1.10%.
• Leaders Strategy A long-only, all-cap global equities strategy investing in Environmental Markets with companies having ≥20% revenue from environmental markets. Maximum annual management fee 0.80%.
• Climate Strategy An equities strategy investing in listed companies with demonstrable exposure to products and services enabling mitigation of climate change or adaptation to its consequences, using the Climate Opportunities Taxonomy. Maximum annual management fee 0.60%.
• Water Strategy A long-only, all-cap global equity strategy investing in stocks of companies operating across water infrastructure, utilities and treatment sectors with ≥20% revenue from the water value chain. Maximum management fee 0.34%.
• Sustainable Food Strategy A long-term capital growth equities strategy investing in companies helping address sustainability challenges facing the food sector with ≥20% revenue from sustainable food activities. Maximum annual management fee 0.36%.
• Global Social Leaders Strategy A diversified global equity strategy investing in companies providing products and services benefitting society with strong corporate culture indicators including low employee turnover and gender-diverse leadership.
• US Environmental Leaders Strategy A long-only, all-cap US equities strategy investing in Environmental Markets with companies having ≥20% revenue from environmental markets. Maximum annual management fee 0.50%.
• Asian Environmental Strategy A regional Asia-Pacific equities strategy aiming to achieve sustainable, above market returns over the longer term by investing in companies active in resource efficiency and environmental markets. Maximum annual management fee 1.00%.
• Core Bond Strategy A core bond strategy providing broad, diversified exposure across investment grade credit sectors targeting attractive income and total returns.
• Core Plus Bond Strategy A diversified, multi-sector bond strategy providing broad fixed income exposure to core and plus sectors targeting attractive income and total returns.
• US High Yield Bond Strategy A diversified, long-only, high current income fixed income strategy investing in US dollar denominated high yield debt securities.
• Global Short Maturity High Yield Strategy A diversified, long-only, high current income fixed income strategy investing in US dollar and non-US dollar high yield debt securities expected to be redeemed within five years or less.
• US Short Duration High Yield Strategy A diversified, long-only, high current income fixed income strategy investing in US dollar denominated high yield debt securities expected to be redeemed within three years or less.
• Emerging Markets Corporate Bond Strategy A diversified fixed income strategy investing in Emerging Markets focusing on corporate fundamentals and attractive risk adjusted return potential.
• Global High Yield Bond Strategy A global fixed income strategy investing in attractive High Yield credits across the globe with the aim to outperform the benchmark over a 3-5 year investment horizon.

Quantifiable outcome

• Impax Global Women's Leadership Fund outperformed the MSCI World Index for the one-, three-, and five-year periods ending September 30, 2019
• +3 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Octopus Energy GenerationcoreStrategic or Co-development Partner · 1 February 2026Impax agreed to sell a portfolio of 88MW French onshore wind assets to Octopus Energy Generation through Impax's pan-European renewables fund Impax New Energy Investors III and two share purchase agreements. The transaction, partially completed with full closing expected Q4 2026, represents a successful exit from a portfolio Impax developed and optimized alongside its French development platform Energiter.
• Fidante PartnerscoreChannel Partner/ Reseller/ Distributor · 17 December 2025Fidante Partners and Impax entered a distribution partnership in Australia and New Zealand to rebrand and distribute Impax's environmental fund. The fund focuses on investments in solutions to resource challenges across key sectors, allowing Fidante to offer specialist sustainable investment capabilities to Australian and New Zealand investors.
• SKY Harbor Capital ManagementcoreStrategic or Co-development Partner · 1 April 2025Impax completed the acquisition of European assets of SKY Harbor Capital Management, expanding its fixed income capabilities. The transaction was announced alongside the Absalon acquisition as part of Impax's strategy to diversify beyond listed equities into fixed income.
• Absalon Corporate CreditcoreStrategic or Co-development Partner · 12 July 2024Impax completed the acquisition of the fixed income assets of Absalon Corporate Credit, a Copenhagen-based fixed income manager serving European institutional investors and high net worth individuals. The acquisition added approximately £355 million of AUM, expanded Impax's fixed income offerings globally with global high yield and emerging market corporate debt strategies, and included plans to open a new office in Copenhagen (Køge).
• NEI (Northridge Group)coreStrategic or Co-development PartnerNEI's partnership with Impax Asset Management manages the NEI Environmental Leaders Fund, a nearly 10-year-old sustainability-focused fund targeting approximately 5% of listed companies globally meeting three criteria: secular environmental growth drivers, competitive advantages, and attractive valuation. The fund has grown from a niche holding to a primary sustainable equity solution.
• EnergiterminorStrategic or Co-development PartnerImpax partnered with Energiter, its French development platform, to develop and optimize the 88MW French onshore wind portfolio that was subsequently sold to Octopus Energy Generation.

Scale indicators14 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Baillie Gifford: Edinburgh-based specialist active equity manager with deep expertise in long-term thematic and sustainability-focused investing. Highly comparable to Impax in philosophy, geographic reach and emphasis on identifying structural growth themes including climate transition.
• Robeco: Rotterdam-based global asset manager with a strong, established sustainable investing franchise (RobecoSAM) and broad equities, fixed income and multi-asset capabilities. Directly comparable as a specialist in sustainable/ESG active management with similar institutional client base.
• Mirova: Paris-based affiliate of Natixis Investment Managers, focused exclusively on sustainable and impact investing across listed equities, fixed income, private equity and infrastructure. Closest pure-play comparable to Impax given thematic depth and listed/private crossover model.
• Federated Hermes (EOS): Federated Hermes' EOS (formerly Hermes Investment Management) is one of the world's largest stewardship and ESG-integrated asset managers. Comparable to Impax in ESG research depth, stewardship-led engagement model and institutional client focus.
• WHEB Asset Management: London-based specialist sustainable equities manager investing across nine sustainability themes including clean energy, water, and resource efficiency. Closely comparable to Impax's thematic equities strategies but smaller scale.
• KBI Global Investors: Dublin-based active equity manager with leading global water and clean energy strategies. Directly overlaps with Impax's Water and Environmental Markets strategies and serves similar institutional clients.
• Generation Investment Management: London/US-based sustainable investment manager co-founded by Al Gore focused on long-term, sustainable equity strategies. Highly comparable investment philosophy and institutional client base to Impax's listed equity business.
• Calvert (Calvert Research and Management): US-based responsible investing affiliate of Morgan Stanley Investment Management offering ESG equity and fixed income strategies. Comparable to Impax's US-listed mutual fund range and sustainability lens equities.

Broad incumbents

• Amundi: Europe's largest asset manager with an extensive ESG fund range across equities, fixed income and ETFs. Overlaps with Impax's product breadth and European distribution but is a generalist with sustainable investing as one of many verticals.
• BlackRock: World's largest asset manager with iShares ESG/sustainable ETFs and a broad sustainability platform. Competes with Impax for institutional sustainable mandates and increasingly for US RIA distribution but is a generalist incumbent rather than a specialist.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubevimeo.com/impaxam
• LinkedInlinkedin.com/company/impax-asset-management
• Xx.com/ImpaxAM

Revenue estimate

Valuation estimate

Number of profiles

Profiles20 records

Subsidiaries7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Impax Asset Management