Austria: Schoenherr advises Cubic (London) Ltd. on sale of Impact Asset Management to Erste Asset Management

Schoenherr advised Cubic on all legal aspects of the transaction. I-AM will retain its management team and operate as a subsidiary of Erste AM. The takeover will increase the volume of ESG assets managed by Erste AM to approximately EUR 28.7bln and significantly expand its offering of sustainable investment solutions.

Headquartered in Vienna, Impact Asset Management GmbH manages an asset volume of approximately EUR 4.3bln as of August 2024, of which EUR 643m is dedicated to microfinance. The company's commitment to sustainability- and impact-driven investment strategies has earned it numerous awards and top sustainability ratings.

Erste Asset Management GmbH is an international asset manager operating throughout Central and Eastern Europe and financially backed by Erste Group Bank AG. Serving both institutional and private clients, it manages approximately EUR 87bln in assets.

The Schoenherr team advising Cubic et al on all legal aspects of the transaction was led by Maximilian Lang (partner) and Christian Herbst (partner), and further consisted of Volker Weiss (partner), Marco Thorbauer (partner), Zurab Simonishvili (attorney at law), Beatrix Schima (attorney at law) and Anna Visontai-Knor (attorney at law).

CMS Reich-Rohrwig Hainz Rechtsanwälte acted as legal advisor to Erste AM.