Penrose Financial ('Penrose'), one of the UK's leading financial and capital markets services public relations consultancy, has successfully advised on the largest investment company IPO in London since July 2008.

Impax Asian Environmental Markets plc ('the Company') will be managed by Impax Asset Management.  The Company will list on the London Stock Exchange today having raised gross proceeds of £104.5m in a Placing and Offer for Subscription.  Collins Stewart Europe Limited acted as sponsor and lead book-runner to the IPO.

The Company is a new closed-ended investment trust formed to enable shareholders to benefit from the rapid and sustained growth anticipated from companies active in the environmental sector that are based in the Asia-Pacific region, particularly China, Japan, Singapore, Hong Kong, India, South Korea, Malaysia, the Philippines, Thailand, Taiwan, Australia and New Zealand.

The Penrose team was led by Gay Collins, Chief Executive, and Shona Prendergast, Partner.

Gay Collins, Chief Executive of Penrose, comments:

"Having launched many investment trusts over the years, it was exciting to work with our client Impax and Collins Stewart to interest the media in this launch.  A figure in excess of £100 million is exceptional in current markets, and we were all impressed by the level of commitment that Collins Stewart managed to generate from investors. This IPO adds significantly to Impax's assets under management and underlines the growth strategy they have."

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For further information:

Gay Collins                        020 7786 4882        gayc@penrose.co.uk

Shona Prendergast           020 7786 4884        shonap@penrose.co.uk

Clare Milton                       0207 786 4874        clarem@penrose.co.uk

About Penrose

Penrose Financial is an award-winning specialist PR consultancy for the international financial services and capital markets industries. Founded in 1998, Penrose is 100% owned by its partners and staff. Our core areas include pensions advisory, institutional fund management, retail financial services, alternative investments, private equity, investor services, banking, capital markets and research. We are the leading PR consultancy to specialise exclusively in these sectors and our clients include many of the foremost global financial institutions and service providers, including leading global pension funds. For further details go to www.penrose.co.uk

email: pr@penrose.co.uk