Combining the strength and expertise of banks and institutional investors
Amsterdam – 13 January 2014 – On the initiative of Euronext Amsterdam, banks, institutional investors and Robeco are joining forces to set up the NL Ondernemingsfonds to provide financing for businesses in the Netherlands. The fund will co-finance company loans. The NL Ondernemingsfonds, the long-term scope of which is projected to reach € 1 billlion, will issue its first loans this year.
The banks ABN Amro, ING and Rabobank, pension providers MN and Syntrus Achmea, asset manager Robeco and Euronext Amsterdam have taken the initiative to set up the NL Ondernemingsfonds, the purpose of which is to create a new source of financing for businesses seeking funds to finance their plans for expansion. The fund is anticipating the recovery of the economy and the resulting increased demand for credit. In the coming weeks other investors will be invited to participate in the initiative.
As from the second half of 2014 businesses will be able to take out a loan from their own bank, which is jointly financed by the bank and the fund. The minimum size of the relevant loans is € 10 million, and they are intended for companies with a turnover of over € 25 million. During subsequent phases of the project, the NL Ondernemingsfonds may also provide financing to smaller companies. The plan is to expand the scope of the fund to € 1 billion within five years. The NL Ondernemingsfonds will focus on institutional investors and be managed by Robeco.
As the intersection of the public capital market, Euronext Amsterdam has taken the initiative to bring these parties together. The participants have combined their strengths and expertise to implement the project, with the help and support of AF Advisors, Deloitte, PwC and the Dutch Bankers Association.
Euronext is the founder of this unique collaboration between banks and investors. Since Euronext is not a bank, it will not be pledging its own funds for loans and will be reimbursed for future costs in facilitating this collaboration.