Erste Asset Management has agreed to purchase 100% of Impact Asset Management, the Austrian investment manager.

The agreement, for an undisclosed sum, currently awaits regulatory approval and represents a commitment from Erste to expand its ESG offerings in Europe.

Heinz Bednar, CEO of Erste AM, said, “The acquisition of I-AM is an important step in our strategic direction and enables us to expand our ESG product portfolio significantly. In particular, the microfinance funds and the strong market relationships in Germany will complement our range of products and services outstandingly.”

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