Impax Asset Management Ireland Limited (IAMI), a subsidiary of Impax Asset Management Group plc, has entered into an investment advisory agreement with BNP Paribas Asset Management Europe (BNPP AM Europe), the company announced on Thursday.
Impax Asset Management Subsidiary Enters Into Advisory Agreement with BNP Paribas Asset Management Europe
Under the terms of the agreement, IAMI will provide investment advisory services to BNPP AM Europe in relation to an investment fund.
The firm explained that the deal forms part of an ongoing distribution arrangement between Impax and BNP Paribas Asset Management across several international markets.
As part of the agreement, BNPP AM Europe will pay IAMI a quarterly fee calculated as a percentage of the assets under management.
Given that BNP Paribas is a substantial shareholder in Impax, and BNPP AM Europe is considered an associate under AIM Rules, the arrangement is classified as a related party transaction.
Furthermore, the independent directors of Impax, excluding Arnaud de Servigny—who is a non-executive director at BNPP AM Europe—have approved the transaction after consulting with Peel Hunt LLP, the Company’s nominated adviser.
