With this acquisition, Erste AM can not only strengthen its market position in the area of ESG, but also tap into new business areas. The acquisition increases Erste Asset Management’s ESG assets under management to about EUR 28.7bn, which corresponds to 33.1% of Erste AM's total assets (about EUR 86.7bn as of 31 July 2024).
“The acquisition of I-AM is an important step in our strategic direction and enables us to significantly expand our ESG product portfolio. In particular, the microfinance funds and the strong market relationships in Germany will complement our range of products and services in an outstanding way,” explains Heinz Bednar, CEO der Erste Asset Management GmbH. “This acquisition underlines our commitment to having a leadership role in sustainable investments and enables us to continue offering our clients innovative and sustainable financial solutions.”
I-AM, a Vienna-based investment firm, manages assets of around EUR 4.3bn as of August 2024, including EUR 643mn in microfinance funds. The company has excelled on the basis of its strong focus on sustainable and impact-oriented investment strategies, for which it has received a number of awards and top ratings from leading rating agencies. The management team will be retained, and I-AM will continue to operate as a subsidiary of Erste AM to ensure successful business continuity. The acquisition of I-AM by Erste AM will enable the Group to further strengthen its ESG competencies and to tap into new market segments.
Günther Kastner, founder and CIO of Impact Asset Management GmbH: “We look forward to bringing I-AM's expertise and successful strategies to the Erste AM group and to thus being able to offer our clients an even more comprehensive range of sustainable investment solutions.”
Erste Asset Management GmbH was supported by CMS Reich-Rohrwig Hainz Rechtsanwälte, PwC PricewaterhouseCoopers Wirtschaftsprüfung und Steuerberatung GmbH, and Alantra with DC Advisory (M&A). Cubic (London) Ltd., which will focus on asset management based on alternative and quantitative strategies as well as the management of international pension funds, received legal support from Schönherr Rechtsanwälte.
