TRANSACTION SUMMARY

Impax Asset Management Group plc ("Impax") has agreed to acquire the European assets of SKY Harbor Capital Management, LLC ("SKY Harbor"), a fixed income manager. As of 30 June 2024, the funds and mandates being acquired had in aggregate approximately £1.6bn (US$2.0bn) of assets under management and advice.

The transaction also includes the acquisition of Frankfurt-based SKY Harbor Capital Management GmbH, a regulated entity that is responsible for the cross-border distribution to clients and investors outside the United States.

Following the completion of the acquisition, eight SKY Harbor team members (including senior executives who have managed and supported SKY Harbor's funds and mandates since their inception) will join Impax.

The acquisition marks an important step in Impax's strategy to expand its fixed income business and follows Impax's agreement to acquire the assets of Copenhagen-based Absalon Capital Management.

IMPAX

Founded in 1998, Impax is a specialist asset manager, with £37bn in assets under management (as of 30 June 2024) in both listed and private markets strategies, investing in the opportunities arising from the transition to a more sustainable global economy.

SKY HARBOR

Founded in 2011 and based in Greenwich, CT, SKY Harbor is a specialist investment firm focused on the management of fixed income corporate high-yield securities and leveraged loans for institutional investors, private wealth advisers, and multi-asset managers, with US$4.2bn in assets under management (as of 30 June 2024). SKY Harbor was an early adopter of the integration of sustainability risks and opportunities into its investment process.

ROLE

SHP acted as adviser to Impax.