Impax Asset Management Group PLC (LON:IPX) has picked up a new mandate from a Luxembourg-based pension fund.
The mandate, for Impax Asset Management Limited, is from a customer of BNPP AM France, the investment arm of the French bank.
Fees payable to IAM will be paid quarterly, as a percentage of the assets under management.
As BNP Paribas is a significant shareholder in Impax, it is regarded as a related-party transaction under AIM rules.