Impax Asset Management to acquire Pax

AIM-quoted asset management group Impax has entered into talks to acquire Pax World Management, a deal that would bring together £10.3bn of assets under management. Impax and Pax have collaborated since 2007 in the design and management of the Pax Global Environmental Markets Fund, which has net assets of around half a billion dollars. Impax has offered $52.5m for Pax, with another $37.5m in additional payments scheduled depending on its performance.

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