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Aegon AM and NIBC close deal for North Westerly CLO management business

Aegon AM and NIBC close deal for North Westerly CLO management business


Aegon Asset Management (Aegon AM) has closed its deal with NIBC Bank to buy its North Westerly European Collateralized Loan Obligation (CLO) management activities.

 

The completion of the transaction sees Aegon AM acquire NIBC’s UK based team and CLO platform consisting of three CLOs with assets under management (AuM) of circa EUR 1.2 billion (bn), for an undisclosed consideration.

 

The move further strengthens Aegon AM’s Alternative investment capabilities, which include Dutch Mortgages, Private Placements, Direct Lending, Leveraged Finance (CLO), Structured Finance and Real Assets.

 

Aegon AM has an existing successful and growing US CLO franchise with AuM of USD 5.4bn and 12 CLOs currently in the market. The completion of the North Westerly deal allows Aegon AM to accelerate its ambitions to expand the franchise to European CLOs with the aim of becoming a leader in the European CLO market as well.

 

The North Westerly team is based in Aegon AM’s London office. The team is one of the longest-active European CLO managers and brings to Aegon AM a solid 20-year track record of managing European CLOs.

 

Commenting on the deal, Aegon AM global chief executive Bas NieuweWeme says: ‘We are excited to have completed the North Westerly transaction and looking forward to working with the team to grow our CLO business in Europe to complement our success in the US market.’

 

-Ends-

 

Notes for the editor

About Aegon Asset Management

Aegon Asset Management is an active global investor. Our 380 investment professionals manage and advise on assets of €295.6 ($321.2/£259.8) billion (as of March 31, 2023) for a global client-base of pension plans, public funds, insurance companies, banks, wealth managers, family offices and foundations.

We organize our investment capabilities around four focused investment platforms where we have extensive asset-class expertise: Fixed Income, Real Assets, Equities and Multi-Asset & Solutions. Each platform has dedicated teams, organized globally and committed to maximizing their specialist areas. These platforms and the Fiduciary business are supported by a team dedicated to responsible investing. 

By organizing our investment teams globally, we work to harness our expertise and research resources across regional boundaries. We believe this enhances our performance potential and helps provide better investment outcomes for clients.

Across platforms, we share a common belief in fundamental, research-driven active management, underpinned by effective risk management and a commitment to responsible investment. Our investment platforms have the flexibility to organize their resources and processes to best suit their area of focus.

We are a global business: Our 1,200 employees work across Europe, the Americas and Asia. We invest globally and serve clients locally.

For more information about Aegon Asset Management, visit www.aegonam.com


Media contacts:

Adrian Cammidge
Global Head of Communications, Aegon Asset Management
+44 (0) 7740 897 181 adrian.cammidge@aegonam.com


Roisin Armit
Senior Communications Manager, Aegon Asset Management
+44 (0) 7583 162 643 roisin.armit@aegonam.com

 

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Author: PR Team
Published On: 21/06/2023
Minute Read: 2