French investment firm La Banque Postale AM (LBPAM) has announced its assets under management have reached €203bn as of 4 July 2017.
The company has hit the €200bn cap thanks to a new mandate of €23bn that has been awarded by French insurance giant CNP Assurances.
Daniel Roy, chairman of the board of LBPAM, said that the investment firm was enjoying an average annual growth of 11% since five years and half, passing from €124bn of assets under management to €203bn.
Mikaël Cohen, chief investment officer of CNP Assurances, said a new mandate has been granted to LBPAM due to the quality of their asset management and their services.
LBPAM manages over €180bn of assets coming from institutional investors.