Aegon Asset Management is to transfer its Dutch fiduciary management activities, overseeing €26bn in assets, to Van Lanschot Kempen Investment Management as part of an expanded long-term partnership between the two firms.
The transfer is expected to take effect in the third quarter of 2027 and will add approximately €26bn to Van Lanschot Kempen’s fiduciary assets under management, which stood at €98bn at 30 June 2026.
Aegon AM will continue to provide liquid multi-manager investment solutions and liability-driven investment services to fiduciary clients. Around 30 Aegon AM employees in the Netherlands are expected to transfer to Van Lanschot Kempen as part of the deal.
The move is intended to ensure continuity of services for existing clients while giving employees the opportunity to develop their expertise within Van Lanschot Kempen’s Dutch platform.
Pensioenfonds KPN and Algemeen Pensioenfonds Stap, Aegon AM’s two largest fiduciary clients, have responded positively to the intended transfer. Together, the two pension funds represented approximately €21bn in assets at 30 June 2026.
The partnership is also expected to strengthen Van Lanschot Kempen’s private markets capabilities for its clients.
Fixed income capabilities
Separately, Aegon AM and Van Lanschot Kempen have agreed to expand their existing collaboration in alternative fixed income, with Aegon AM becoming a strategic partner for Van Lanschot Kempen’s alternative fixed income solutions.
Van Lanschot Kempen will appoint Aegon AM as strategic adviser to its Alternative Fixed Income Solution fund-of-funds (AFIS) and as a core provider of the underlying alternative credit investment components.
The firms will also work together to develop new alternative fixed income solutions for Van Lanschot Kempen’s clients. Aegon AM’s capabilities will be included in Van Lanschot Kempen’s manager selection process, consistent with its fiduciary approach.
The partnership supports Aegon AM’s focus on strategic partnerships and third-party distribution as it seeks to expand its alternative fixed income capabilities.
Erik van Houwelingen, member of the Van Lanschot Kempen management board responsible for investment management clients, said: “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.”
Trudy Stassen, chief executive officer of Aegon AM Continental Europe, added: “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.”
