Impax Asset Management is opening an office in Tokyo later this month.
This follows the firm’s selection by the Tokyo Metropolitan Government to receive a ‘Green Finance Subsidy Programme for Tokyo Market Entry’.
Impax will hire a small number of employees for the new outfit and continue to collaborate with its decade-long distribution partner, BNP Paribas Asset Management Japan.
The Green Finance Subsidy Programme is aimed at sustainable economic and social recovery through advancing climate change countermeasures. It provides support for overseas asset managers and fintechs involved in green finance when they start new businesses in Tokyo.
The opening of Impax’s Japanese office follows the award of a mandate for a major government pension fund there.
Ian Simm, founder and chief executive, (pictured) said: “We see significant potential to grow in Japan, which has a sophisticated asset owner community with a considerable interest in the investable opportunities relating to the transition to a more sustainable economy.
“We are delighted to have been selected for the Green Finance Subsidy Programme by the Tokyo Metropolitan Government, which recognises our work in understanding how finance can help to mitigate climate change.”
Impax had £40.3bn in assets as of 31 January 2023, in both listed and private markets strategies.