The ratings on Netherlands-based NIB Capital Bank N.V. (NIBC) reflect the bank's ownership by two major European pension funds: Stichting Pensioenfonds ABP (ABP) and Stichting Pensioenfonds voor de Gezondheid, Geestelijke en Maatschappelijke Belangen (PGGM), its strong capital base, and its sound asset quality. Offsetting these factors are NIBC's specialized and limited franchise, a expected degree of volatility in earnings given the nature of its operations, and its significant equity risk exposure. NIBC is a wholesale bank specialized in providing corporate finance, risk management, and structured investment solutions to corporates, financial institutions, institutional investors, and family offices. NIB Capital N.V. is the holding company for NIBC, which is its main operating company. NIB Capital Private Equity N.V., the other independent business
