(Bloomberg) -- Finance in Motion GmbH, a German asset manager focused on environmental, social and governance investing, is exploring a sale, people familiar with the matter said.

The company is working with advisers as it considers a possible sale that could value it in the hundreds of millions of euros, the people said, asking not to be identified discussing confidential information. 

Deliberations are ongoing and there’s no certainty they’ll result in a sale, they said. A spokesperson for Finance in Motion declined to comment.

Frankfurt-based Finance in Motion has about €3.2 billion ($3.4 billion) in assets under management or advisory, according to its website. Its funds fall within the scope of Article 9 of the European Union’s Sustainable Finance Disclosure Regulation — a top designation for funds that have sustainability at their core. 

Investor demand for such products has increased rapidly as sustainable finance has moved from a niche corner of markets and into the mainstream. While the world’s largest asset managers have been expanding their suites of ESG funds, stricter EU guidance on using the Article 9 tag has led to the recent downgrade of products run by firms including Amundi SA, DWS Group and BlackRock Inc.

Finance in Motion was founded in 2009, has 16 offices around the world and employs more than 270 people. The company is led by managing directors Christoph Freytag, Elvira Lefting and Sylvia Wisniwski.

--With assistance from Laura Benitez.

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