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 NEFII, 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 four investments in wind and hydro in France, Germany and Norway
  • 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

Peter Rossbach

Executive Director, Private Equity Infrastructure

Peter joined Impax in May 2003 and has driven the creation of the NEF I and II portfolios whilst heading the Impax Private Equity and Infrastructure team. Peter has primary responsibility for investments in the United States of America. Peter is a member of the investment committee.

Peter has been involved in the financing of energy projects since 1983. He started his career with the renewables division of the US Department of Energy in 1980 before working as aide for energy and environment to US Senator Jim Sasser. After working in Oklahoma and California in the natural gas sector in 1984-1985 Peter obtained his credit background as a utility and energy project debt analyst with Standard & Poor’s in 1985-1986. He has worked in each tier of the capital structure, having spent three years with the American developer Catalyst Energy and its affiliates developing and financing over 650 MW ($1 billion) of renewable and other energy projects and five years as Vice President of Project Finance for senior lender Mitsui Bank.

In the 1990s, Peter was appointed by the US Government to be Senior Investment Adviser to the European Bank for Reconstruction and Development, where he established a private equity fund for environmental infrastructure in Eastern Europe. From 1997-2000 he was Senior Investment Officer of the Asian Mezzanine Infrastructure Fund, a power and infrastructure mezzanine and equity investment fund that made successful investments in the New Energy Sector. Peter is a former member of the Cleantech study group of the British Venture Capital Association and former non-executive director of Coronation Power Limited. He has a BA from Harvard College and a Master’s degree from Harvard’s Kennedy School of Government, where he studied Utility Regulation and Finance.

Recent blog posts

Daniel von Preyss

Head of Private Equity Infrastructure (Europe), Executive Director

Daniel joined Impax in 2009 and has primary responsibility for investments in Europe. Daniel is a member of the investments 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.

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