Impax Asset Management Group has completed its acquisition of Absalon Corporate Credit’s fixed income assets.
Copenhagen-based Absalon was previously part of the Formuepleje Group and serves both European institutional investors and Danish high net worth individuals.
Specifically, the transaction will see Impax AM add Absalon’s global high yield and emerging market corporate debt strategies to its fixed income range.
Read more: Impax Asset Management to acquire corporate credit business from partner firm Formuepleje Group
Ian Simm, founder and chief executive of Impax, said: “We are pleased to welcome Absalon’s experienced team of credit managers and to expand our fixed income offering further with the addition of these two strategies. This marks the first time that we will be offering fixed income solutions to our clients outside North America, including via our UCITS platform.”
Following the deal’s conclusion, Absalon’s portfolio managers are set to join Impax’s fixed income team and report to Impax head of fixed income, Ross Pamphilon. The existing fixed income team is based in the US.
Last week, Impax also revealed that it had also entered into an agreement to acquire fixed income manager, SKY Harbour Capital Management’s European assets.
Once both deals have been completed, Impax is set to have total pro-forma fixed income assets under management and advice of around £3.1 billion.
The fixed income investment team will include approximately 20 professionals and offer services in: US core bonds, US core plus bonds, US high yield, global high yield, US short duration high yield, Global short maturity high yield and emerging market corporate debt.