Impax Asset Management has announced the final close of its private markets infrastructure fund, Impax New Energy Investors IV, having raised €459 million.

NEF IV is a pan-European portfolio with select US exposure and targets investments in technologies such as onshore wind, solar PV and small-scale hydropower, as well as investments in adjacent sectors including decentralised generation and energy efficiency.

The fund’s portfolio currently consists of 10 platform investments, across six countries and five technologies, all made within two years of the first close of the Fund in October 2021. Investors in NEF IV include pension funds, sovereign wealth funds, insurance companies, asset managers, and family offices.

Daniel von Preyss, Head of PE/Infrastructure, Impax said, “We are pleased to have held the final close of our fourth fund, attracting a diverse and committed group of existing and new investors. Successfully closing the fund, close to its target size and approximately 30% larger than our last fund, is testament to the team’s ability to execute the investment strategy and deliver for our investors. “The market environment for investing in new energy infrastructure in Europe remains highly attractive. There is a global consensus that we must phase out carbon-intensive energy resources whilst promoting energy independence. The favourable regulatory environment in which we operate is well-established and reflected by the EU’s ambitious renewable energy targets. Overall, Impax’s New Energy strategy is well-positioned to capitalise on these favourable tailwinds and support the energy transition.”

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