SKY Harbor Acquisition

London, 1 April 2025 – Impax, the AIM-listed specialist investor focused on the transition to a more sustainable economy, announces today that it has closed its acquisition of the European assets of SKY Harbor Capital Management, LLC (“SKY Harbor”), a high yield fixed income manager.

SKY Harbor, founded in 2011 and based in Greenwich, Connecticut, is a specialist investment firm serving institutional investors, private wealth advisers and multi-asset managers. With the completion of the transaction, SKY Harbor’s European-based assets, including funds and mandates targeting short-duration high yield strategies, with assets under management and advice of approximately £1.1 billion (US$1.4 billion) as at 28 February 2025, have been acquired by Impax.

These strategies include the US Short Duration Responsible High Yield strategy (launched in 2012) and the Global Short Maturity Responsible High Yield strategy (launched in 2018), which are distributed to clients and investors outside the United States. The strategies are available via the sub-funds of a Luxembourg-based umbrella UCITS fund, which will be re-branded as “Impax” funds and via separately-managed mandates. The sub- funds of the SKY Harbor UCITS Fund comply with the transparency disclosure obligations under Article 8 of the European Union’s Sustainable Finance Disclosures Regulation (SFDR). The US Short Duration Responsible High Yield strategy has been awarded the SRI Label as defined by the French Ministry of the Economy and Finance.

Seven SKY Harbor team members have joined Impax, including David Kinsley, SKY Harbor’s Head of Investing, and Stefan Balog, who co-manage the strategies. The future distribution and client servicing of the strategies will be managed by Impax’s existing client teams.

Impax has also acquired Frankfurt-based SKY Harbor Capital Management GmbH as part of the transaction, a regulated entity responsible for the cross-border distribution of the strategies to clients and investors outside of the United States.

Ian Simm, Founder and Chief Executive, Impax said: “The completion of this transaction significantly furthers our strategy to build scale and capabilities within fixed income. The SKY Harbor team’s deep expertise and track record in short-duration high yield investing will complement our existing offering and enable us to offer our clients a wider range of solutions within credit markets.”

The SKY Harbor completion follows the acquisition in July 2024 of the assets of Absalon Corporate Credit (‘’Absalon’’), a Copenhagen-based fixed income manager. With both acquisitions closed, Impax has total fixed income assets under management and advice of approximately £2.6 billion as of 28 February 2025. The Impax fixed income investment team now includes c. 20 professionals, offering strategies in US Core Bond, US Core Plus Bond, US High Yield, Global High Yield, US Short Duration High Yield, Global Short Maturity High Yield, and Emerging Markets Corporate Bond.

Further details about the agreement are set out in the Company’s announcement as of 10 July 2024.