# Impax Asset Management, Ltd.

> Impax Asset Management, Ltd. is an SEC-registered investment advisory firm in London, United Kingdom, registered since 2008, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated December 22, 2025.

- CRD: 143247
- Filed as: IMPAX ASSET MANAGEMENT, LTD.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: London, United Kingdom
- Filing period: October 2026
- Form ADV filing dated: December 22, 2025
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/143247
- AdvisorCensus page: https://advisorcensus.com/firm/impax-asset-management-ltd-london-143247

## Quick answers

**How is Impax Asset Management, Ltd. compensated?**
On its Form ADV (Item 5.E, October 2026), Impax Asset Management, Ltd. reports these compensation arrangements: a percentage of assets under its management; performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Impax Asset Management, Ltd. located?**
Impax Asset Management, Ltd.'s principal office is in London, United Kingdom, according to its Form ADV.

**Is Impax Asset Management, Ltd. registered with the SEC or a state?**
Impax Asset Management, Ltd. is an SEC-registered investment advisory firm, registered since 2008. Status as filed: Approved. CRD 143247.

**How much does Impax Asset Management, Ltd. manage?**
Impax Asset Management, Ltd. reports $25,841,080,997 in regulatory assets under management in its Form ADV filing dated December 22, 2025 (95% discretionary).

**How have Impax Asset Management, Ltd.'s assets and staff changed since 2021?**
In the Form ADV data for Impax Asset Management, Ltd.: Regulatory assets under management: $20,030,498,035 in the October 2021 data and $25,841,080,997 in the October 2026 data, up 29%. Total employees: 119 in October 2021 and 165 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Impax Asset Management, Ltd. serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (562); individuals (other than high net worth individuals) (33); pooled investment vehicles (other than investment companies and business development companies) (27).

**Which custodians does Impax Asset Management, Ltd. use?**
Impax Asset Management, Ltd.'s most recent Form ADV filing (Schedule D, Section 5.K(3)) lists BNP Paribas S.A., Citibank, HSBC, JP Morgan and The Bank of New York Mellon as custodians holding 10% or more of its separately managed account assets.

**Does Impax Asset Management, Ltd. report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/143247

**What changed in Impax Asset Management, Ltd.'s recent Form ADV filings?**
In the January 2026 filing data: Employees performing advisory functions went from 58 to 53. Regulatory assets under management went from $40,552,725,301 to $25,841,080,997 (-36%). Registered or notice-filed in CO, FL, MA, MD, ME, NH. No longer registered or notice-filed in AZ, OR, TX. Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Custodians (Schedule D, Section 5.K(3))
- BNP Paribas S.A.
- Citibank
- HSBC
- JP Morgan
- The Bank of New York Mellon

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $25,841,080,997
- Discretionary: $24,448,570,709
- Non-discretionary: $1,392,510,288

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 33 | $7,148,854 |
| High net worth individuals | 562 | $218,498,776 |
| Investment companies | 4 | $2,245,347,997 |
| Pooled investment vehicles (other than investment companies and business development companies) | 27 | $18,020,900,744 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 9 | $893,822,436 |
| Charitable organizations | 7 | $12,770,672 |
| State or municipal government entities (including government pension plans) | 3 | $1,465,588,172 |
| Other investment advisers | 11 | $1,568,393,870 |
| Corporations or other businesses not listed above | 17 | $14,272,356 |
| Other | 13 | $1,394,337,120 |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses
- Portfolio management for investment companies (and business development companies)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 2008 (18 years)
- Employees: 165 total, 53 performing advisory functions
- Wrap fee program participation: Yes
- States registered or notice-filed: CA, CO, CT, FL, IL, MA, MD, ME, NH, NY
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- [impaxam.com](https://impaxam.com)
- [impaxenvironmentalmarkets.co.uk](https://impaxenvironmentalmarkets.co.uk)
- LinkedIn @IMPAX-ASSET-MANAGEMENT
- LinkedIn @IMPAX-ENVIRONMENTAL-MARKETS-PLC
- X @IEMPLC
- X @IMPAXAM

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $20,030,498,035 | 119 | March 12, 2021 |
| October 2022 | $41,126,661,776 | 133 | April 12, 2022 |
| October 2023 | $32,212,641,594 | 155 | January 18, 2023 |
| October 2024 | $36,622,751,527 | 175 | December 19, 2023 |
| October 2025 | $40,552,725,301 | 187 | December 20, 2024 |
| October 2026 | $25,841,080,997 | 165 | December 22, 2025 |

Regulatory assets under management: $20,030,498,035 in the October 2021 data and $25,841,080,997 in the October 2026 data, up 29%.
Total employees: 119 in October 2021 and 165 in October 2026.

## Changes in the filing (last 12 months)

### January 2026
- Employees performing advisory functions went from 58 to 53.
- Regulatory assets under management went from $40,552,725,301 to $25,841,080,997 (-36%).
- Registered or notice-filed in CO, FL, MA, MD, ME, NH.
- No longer registered or notice-filed in AZ, OR, TX.
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Impax Asset Management, Ltd. (CRD 143247): Form ADV filing data as of October 2026.