NIB Capital sold to JC Flowers

ABP and PGGM, the Dutch pension funds have agreed to sell their jointly held private bank NIB Capital to a consortium led by JC Flowers.

The acquisition should have a minimal impact on the bank’s private equity business, NIB Capital Principal Investments. Hans Rijnberg of the group, said: “There are no plans to change strategy, but we will definitely be heading for growth following the acquisition. We will focus on expansion of the business and will also become more focused on the German market.”