Desjardins Group, a Canadian financial services company, selected Impax to subadvise its SocieTerra Environment Fund, a Desjardins spokeswoman confirmed in an email.
The team that runs Impax's Global Opportunities all-cap equities strategy will now manage Desjardins' C$152 million ($108 million) fund. Desjardins’ global asset management business previously managed the fund.
Impax has also managed the Desjardins SocieTerra Cleantech Fund since 2016.
"Impax is well recognized worldwide for its expertise in understanding investment opportunities arising from the transition to a more sustainable economy," said Sebastien Vallee, general manager, investment solutions development and management at Desjardins Investments, in a news release issued by Impax. "As the global economy shifts to become more sustainable, the set of related investment opportunities is expanding rapidly."
