DC Advisory advises Erste Asset Management on the acquisition of Impact Asset Management

Background

• Impact Asset Management GmbH (I-AM) is a Vienna-based specialist asset manager, with €4.3 bn in assets under management as of August 2024, including €643 m in microfinance funds
• I-AM has distinguished itself through its strong focus on sustainable and impact-oriented investment strategies
• Erste Asset Management GmbH (Erste AM) is an international asset management company with a strong position in Austria and Central and Eastern Europe, and a subsidiary of Erste Group Bank AG (Erste Group)
• The acquisition will increase the ESG volume managed by Erste AM to around €28.7 bn, which corresponds to 33.1% of Erste AM's total assets (approx. €86.7 bn as of 31 July 2024)

Process

• DC Advisory acted as a buy-side advisor to Erste AM, working closely with Erste AM’s management, project team and other advisers
• In particular, DC Advisory provided senior support on overall project management of the transaction, due diligence coordination, negotiations and tactical advice on structuring the transaction

Outcome

• Erste AM signed definitive transaction documents to acquire 100% of the shares in I-AM in September 2024. Closing is subject to customary regulatory approvals
• The acquisition of I-AM aims to allow EAM to significantly expand its ESG product portfolio, to extend its market position with the addition of I-AM’s microfinance funds and expand its presence in the German market through I-AM’s existing reputation. It will further allow EAM to enter the pension fund market in Armenia, a new product vertical for EAM which has been identified as a growth area
• This transaction is the first advised deal to be supported by DC Advisory’s recently launched office in Vienna. It marks a significant strategic step for the asset management subsidiary of the largest Austrian bank (by market cap) and demonstrates the growing strength of the DC Advisory platform across the entire DACH region