13 June 2022 | 2 min. readingtime
a.s.r. asset management has reached an agreement to acquire a private loans portfolio from NIBC of €250 million. The portfolio consists of private loans to companies in North Western Europe. With this transaction, a.s.r. strengthens its position in private debt, in line with the long-term strategy to increase investments in this asset class. The outstanding agreements and conditions remain unchanged.
The acquisition is part of a combined offer by a.s.r. and the Oldenburgische Landesbank (OLB) on the NIBC private loans portfolio. OLB has acquired the German portfolio. The portfolio that a.s.r. acquires, consists of 19 clients and concerns financing to mainly medium-sized companies in the Netherlands. The loans that are part of this transaction, are a solid addition to the portfolio with an average rating in line with the existing portfolio.
Including this transaction, the total private debt portfolio of a.s.r. asset management increases to approximately € 1.9 billion. Within private debt, the focus is on the financing of corporates, digital infrastructure projects and renewable energy projects.
Jack Julicher, CEO a.s.r. asset management: ‘We are pleased to announce another great step in the development of our Private Debt Fund I. In doing so, we are responding to the trend of more direct financing through specialized asset managers. This acquisition of this portfolio fits in well with our private debt strategy. We make a societal contribution to the development and broadening of the financing base for medium-sized companies in the Netherlands and neighboring countries. The transaction offers our institutional clients the opportunity to invest as an external party, alongside a.s.r., in our diversified and invested Private Debt Fund I’.
The transaction stems from the strategic partnership between NIBC and a.s.r., which will be maintained in the field of Digital Infra.
The portfolio transition will take place gradually over the coming months.