17 Related parties

FMO considers the Dutch Government, subsidiaries, associated companies, the Management Board (MB) and the Supervisory Board (SB) as related parties. 

In the first half year of 2022 the only change related to the composition of the MB and SB was that Thessa Menssen decided to step down as member of the SB as per 1 January 2022. The SB expects to be able to announce her successor in the second half of 2022.

For the expansion of the MB from 3 to 5 members, it is expected that per September 1, 2022 the current Chief Risk & Finance Officer-role (CRFO) will be split in a Chief Finance & Operations Officer (CFOO) and a Chief Risk Officer (CRO). The Supervisory Board is also looking for an additional fifth MB member as the Chief Investment Officer-role (CIO) will also be split in two roles. Both appointments are expected to take place in the second half of 2022 and will be subject to final formal approvals.

In the first half of 2022 one private equity investment was transferred from State Fund Access to Energy Fund to FMO (€13.9 million).

In the first half of 2022, the FMO Representative Office LAC Limitada legal entity was created in Costa Rica. This subsidiary is 100% owned by FMO. The consolidation of this entity does not have a material impact on FMO's balance sheet or FMO's current business activities.

During first half of 2022, Nedlinx B.V. was liquidated and is no longer part of the consolidation structure of FMO's consolidated accounts. The subsidiary was 100% owned by FMO. The event of liquidation of this entity does not have a material impact on FMO's balance sheet or FMO's current business activities.