Impax AM bolsters fixed income arm with acquisition of Danish bond boutique

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Impax Asset Management’s Ireland subsidiary has agreed to acquire the assets of Danish bond boutique Absalon Corporate Credit for an undisclosed sum, as the firm continues to develop its fixed income franchise.

The boutique, which is owned by Copenhagen-based asset manager Formuepleje Group, manages around £351m (€405m) of assets for European institutional investors and Danish high-net-worth individuals. Absalon runs two fixed income strategies in global high yield and emerging market corporate debt, launched in 2006 and 2010, respectively, and are available as both Luxembourg- and Danish-based funds.  The team was established by Klaus Blaabjerg, who, along with three portfolio management colleagues, will join Impax as part of the acquisition. Each team member brings more than 15 years' expe...