Impax is one of the longest established private equity fund managers in the large and rapidly growing renewable energy sector. The firm manages three private equity infrastructure funds that follow an industrially-focused value-add strategy, investing in renewable power generation and related assets.

The funds:

  • Impax New Energy Investors is a €125 million fund which reached final close in August 2006
  • Impax New Energy Investors II (NEF II) aims to build upon the activities of Impax New Energy Investors with a consistent investment focus. NEF II, which reached final close in August 2011 with €330 million of capital commitments, was deployed across a diversified investment portfolio spanning six European countries and has realised multiple successful exits
  • Impax New Energy Investors III (NEF III) continues the successful strategy of NEF II, with an increased focus on development partnerships in key European countries. NEF III, which reached final close in May 2018 with €357 million of capital commitments, has currently made 12 investments in wind, PV and hydro in France, Germany, Norway, the Netherlands and Spain.
  • Our investor base is comprised of a geographically diverse mix of leading institutional investors including pension funds, insurance companies and global investment managers

The sectors:

  • The funds invest in single projects and growth companies owning multiple projects across Europe
  • We back companies that use commercially proven technology, and aim to deploy the majority of the funds’ capital into the wind and solar sectors. Our team has deep sector experience stretching back to the 1980s and has executed transactions in multiple European countries

The strategy:

Impax “industrial” approach is focussed on adding value and minimising risk

Excellent market opportunity

  • Stable market created by ambitious EU renewable energy targets, widespread ageing of current power plants and shortfall in traditional power generation capacity being built
  • Strong regulatory support with feed-in tariffs offering inflation-linked revenues in the long term
  • Fragmented market ripe for consolidation as large financial investors and utility power generation companies look to buy scaled renewable asset portfolios in operation

“Industrial” approach adds real value and minimises risk

  • Experienced multilingual team with broad networks and access to strong proprietary deal flow
  • Investing in commercially proven technology with short construction periods
  • Specialist technical and operational knowledge
  • Focus on risk management and downside protection through careful contracting and operational management
  • Returns driven by creation of instrinsic asset quality, not excessive financial leverage

For Japanese Investors

Pursuant to the Financial Instruments and Exchange Law of Japan, effective as of March 1, 2016, a person who has submitted a notification regarding Specially Permitted Businesses for Qualified Institutional Investors, is required to make available to the public certain information.

Information on the Private Equity funds can be obtained from Impax Asset Management, 7th Floor, 30 Panton Street, London SW1Y 4AJ or by emailing ImpaxNEF@Impaxam.com

Portfolio Management Team

Daniel von Preyss

Head of Private Equity Infrastructure, Executive Director

Daniel joined Impax in 2009 and is heading the Impax Private Equity Infrastructure business. Daniel is a member of the investment committee.

He is both involved in investments and is Head of Asset Management. Daniel has significant business and senior transactional experience with blue chip companies within the energy and utility sectors. Prior to joining Impax he was responsible for Babcock & Brown’s Northern European infrastructure activities where he focused on regulated utilities, gas storage and broader power generation.

Prior to this, Daniel was Director of Corporate Finance for the European Energy and Utilities team at Deutsche Bank with a strong focus on M&A activity in Europe and a member of Citigroup’s Utilities team.

Carsten Johansen

Head of Transaction Team Private Equity Infrastructure, Managing Director

Carsten joined Impax in 2019 and is responsible for originating and negotiating new investments for the firm and supports the Head of the Team in the management of the business. He is a member of the NEF III investment committee.

He joined from GE Energy Financial Services where for 11 years he was responsible for originating, executing and managing investments with focus on renewable and thermal energy. Carsten invested in late-stage development projects and managed them through construction and operation. He has extensive experience working on both single asset and joint venture investments across Europe and Latin America. Carsten joined GE Capital in 2000 and held various finance and M&A roles in the financial sector.

Carsten holds an MSc in Accounting & Finance from London School of Economics, UK and a BA in Economics & International Business from University of North London, UK and Copenhagen Business School, Denmark.

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