ABN Amro paid €20m compensation to AAC Capital

In 2006, ABN Amro guaranteed AAC Capital a €2bn investment by November 2008, but was unable to honour the commitment. In the same year, ABN was nationalised in response to the bank's struggles throughout the financial crisis.

The €20m compensation payment to AAC accounted for a significant proportion of the GP's total 2011 profits of €23.6m.

AAC Capital, formerly ABN Amro Capital, managed ABN's private equity portfolio, before it was sold to Goldman Sachs, AlpInvest and the Canada Pension Plan Investment Board for €1.5bn in 2008. 

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• ABN Amro
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