Aegon Asset Management (Aegon AM) and Lakemore Partners have expanded their partnership to grow the firms’ collateralised loan obligation (CLO) platforms.
The expanded tie-up builds on the firms’ collaboration on CLO issuance since 2023 and is designed to increase asset growth for both businesses, according to the investors.
For Aegon AM, which manages $439bn (£332.2bn) in assets, the partnership with Lakemore will help grow its US CLO issuance programme and broaden its institutional investor reach.
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“This alliance strengthens Aegon AM’s position as a leading CLO manager and creates meaningful opportunities for growth across our platform,” said Chris Thompson, chief executive of Aegon Asset Management US.
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As part of the agreement, Lakemore, a CLO investment firm with $1.9bn in assets, will make equity investments in Aegon’s new US CLOs over several years, with the firms offering different products to investors.
“This partnership represents a new investment initiative for Lakemore,” said Ahmed Farid, chairman and chief executive of Lakemore. “By partnering with Aegon AM and its world-class credit platform, we are building the foundation to scale our investment platform to $12bn in assets under management and $30bn in senior loan exposure over the coming years.”
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