Impax Asset Management has closed the acquisition of Danish fixed income manager Absalon Corporate Credit’s assets.

Absalon, which was formerly part of the Formuepleje Group, serves European institutional investors and Danish high net worth individuals and as of 30 June this year had approximately £355m of assets under management (AuM).

Impax is a UK-based specialist asset manager investing in the transition to a more sustainable economy with approximately £36.9bn of AuM.

Following the latest acquisition, Absalon’s global high yield and emerging market corporate debt strategies will become part of Impax’s fixed income range, with funds available on the group’s Irish-based UCITS platform.

Senior portfolio managers, Klaus Blaabjerg, Sune Højholt Jensen, Toke Katborg Hjortshøj and Peter Dabros have joined Impax and will establish a new office for the company in Copenhagen.

Founder and chief executive at Impax, Ian Simm, said: “We are pleased to welcome Absalon’s experienced team of credit managers and to expand our fixed income offering further with the addition of these two strategies. This marks the first time that we will be offering fixed income solutions to our clients outside North America, including via our UCITS platform.”

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