Aegon Asset Management (AM) has confirmed it will transfer its Dutch fiduciary management activities to Van Lanschot Kempen Investment Management (IM).

The transfer aims to combine Van Lanschot Kempen IM’s client relationships, fiduciary management scale and wealth management expertise with Aegon AM’s alternative fixed-income capabilities, including investment strategies in Dutch private debt assets, mortgages and asset-backed securities.

According to Van Lanschot Kempen, the deal reflects the growing importance of scale in the Dutch fiduciary management market.

Approximately €26bn in assets related to Aegon AM’s fiduciary management activities will contribute to Van Lanschot Kempen’s fiduciary assets under management, which amounted to €98bn as of 30 June 2026.

The transfer and strategic partnership support Van Lanschot Kempen’s ‘Growing Further Together’ strategy and are expected to have a marginal impact on its Common Equity Tier 1 capital ratio.

Aegon AM will continue to provide liquid multi-manager investment solutions and liability-driven investment services to fiduciary clients.

As part of the transfer, approximately 30 employees in the Netherlands are expected to transfer to Van Lanschot Kempen, and both parties intend to ensure continuity of services for existing clients and allow employees further to develop their expertise within a growing Dutch platform.

The two largest fiduciary clients of Aegon AM, Pensioenfonds KPN and Algemeen Pensioenfonds Stap, have responded positively to the intended transfer.

The agreement to transfer Aegon AM’s fiduciary management activities is subject to customary closing conditions and will come into effect in the third quarter of 2027.

Meanwhile, the transition of clients and activities will take place in phases and is expected to continue into mid-2028.

Commenting on the transfer, Van Lanschot Kempen Management Board member, Erik van Houwelingen, said: “We are pleased that we are able to welcome Aegon’s clients and experienced fiduciary team and deepen our collaboration on alternative fixed income.

“This step accelerates the growth of our fiduciary management activities and enables us to support pension funds even more effectively as they adapt to the new Dutch pension system.”

Adding to this, Aegon AM Continental Europe CEO, Trudy Stassen, said: “This partnership supports our sharpened strategic focus and expands the reach of our market-leading alternative fixed income capabilities.

“The partnership creates new opportunities to serve a broader client base and supports our ambition to become a leading European alternative fixed income manager. It also ensures continuity for fiduciary clients and colleagues through Van Lanschot Kempen’s strong commitment to fiduciary management.”

Alongside the transfer, the two firms have also agreed to enter a partnership in which Aegon AM will become Van Lanschot Kempen’s strategic partner for alternative fixed income solutions.

The partnership is designed to strengthen the existing long-term collaboration.

Van Lanschot Kempen will appoint Aegon AM as strategic adviser to its Alternative Fixed Income Solution fund-of-funds (AFIS) and core provider of AFIS’s underlying alternative credit investment components.

The parties will also work together to develop new alternative fixed income solutions for Van Lanschot Kempen’s clients. Van Lanschot Kempen will include Aegon AM’s capabilities in its manager selection process, consistent with its fiduciary approach.

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