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LONDON - Impax Asset Management Group plc, an AIM-listed company specializing in investments for a sustainable economy, has completed the acquisition of the European assets of SKY Harbor Capital Management, LLC, a high yield fixed income manager based in Greenwich, Connecticut. The transaction, which closed recently, includes SKY Harbor’s European-based assets, comprising funds and mandates with a focus on short-duration high yield strategies, and assets under management and advice totaling approximately £1.1 billion (US$1.4 billion) as of February 28, 2025.
The acquired strategies, including the US Short Duration Responsible High Yield strategy and the Global Short Maturity Responsible High Yield strategy, target clients and investors outside the United States. These are distributed through Luxembourg-based umbrella UCITS funds, which will now be rebranded as Impax funds, and separately-managed mandates. The SKY Harbor UCITS Fund sub-funds meet the European Union’s Sustainable Finance Disclosures Regulation (SFDR) transparency requirements, with the US Short Duration Responsible High Yield strategy also receiving the SRI Label from the French Ministry of the Economy and Finance.
As part of the acquisition, seven SKY Harbor team members, including David Kinsley and Stefan Balog, who co-manage the strategies, have joined Impax. Impax’s existing client teams will handle the future distribution and client servicing of these strategies.
The acquisition also includes SKY Harbor Capital Management GmbH, a Frankfurt-based regulated entity responsible for the strategies’ cross-border distribution to clients and investors outside the United States.
Ian Simm, Founder and Chief Executive of Impax, stated that this acquisition significantly advances the company’s strategy to build scale and capabilities within fixed income. He highlighted the SKY Harbor team’s expertise in short-duration high yield investing as a complement to Impax’s existing offerings and a means to provide clients with a broader range of solutions in the credit markets.
Following this completion and the previous acquisition of Copenhagen-based Absalon Corporate Credit in July 2024, Impax’s total fixed income assets under management and advice amount to approximately £2.6 billion. The Impax fixed income investment team now includes around 20 professionals, offering strategies across various bond markets, including US Core, High Yield, Global High Yield, and Emerging Markets Corporate Bond.
This expansion is part of Impax’s ongoing efforts to grow its fixed income capabilities, and the company has provided further details about the agreement in its announcement dated July 10, 2024. This article is based on a press release statement.
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