NIBC and Aegon Asset Management close deal for NIBC’s North Westerly CLO Platform

NIBC announces that it has closed the deal to sell its European Collateralised Loan Obligation (CLO) management activities to Aegon Asset Management. Through this transaction, NIBC further accelerates its strategy to streamline its business model and to focus on asset-backed financing.

The sale comprises NIBC’s North Westerly CLO platform in its entirety, including the NIBC CLO team, collateral management of three outstanding CLOs with assets under management of circa EUR 1.2 billion and associated risk retention positions in the three CLOs, for an undisclosed consideration. This transaction provides the North Westerly platform and its stakeholders with a strong basis for further growth under Aegon Asset Management ownership, who fully supports the North Westerly platform’s strategy.