BNP Paribas Asset Management (BNPP AM) has finalised its previously announced acquisition of a majority stake in Dutch asset manager and specialist lender Dynamic Credit Group (DCG).
The deal, first announced in September 2021, is part of BNPP AM’s efforts to bolster its investment platform, particularly within the private markets segment.
DCG will be part of the firm’s Private Debt & Real Assets (PDRA) investment division.
The Dutch asset manager had more than €20bn in assets as of the end of last year.
The assets, which primarily consist of Dutch mortgages, stem from the firm’s online platform bijBouwe and other channels.
It provides a range of services including reporting and valuation services and portfolio management to investors interested in Dutch mortgages.
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Besides mortgages, DCG also specialises in the origination and management of granular loan portfolios.
LoanClear, an advisory firm within DCG, specialises in illiquid credit investments and offers services, including portfolio performance benchmarking, valuation, and portfolio transactions.
Commenting on the deal, BNPP AM PDRA head David Bouchoucha said: “The completion of this deal marks an important step in the development of our private debt platform.
“It adds an innovative and well-established skillset in the sourcing, origination, management and servicing of granular loan portfolios, especially within the mortgage area. We look forward to integrating DCG within our teams, thereby further enriching our discussions with investors around private debt.”
Dynamic Credit CEO and founder Tonko Gast said that the partnership with BNPP AM is “fully aligned in terms of fiduciary duties and providing sustainable solutions to clients”.
Gast added: “Working with BNP Paribas Asset Management will enable our teams to accelerate the expansion of our distribution networks across Europe and Asia. In addition, this will enhance our global capacity to source personal and small SME loans for our Diversified Loan Fund.”
Recently, ZEDRA, a global wealth and fund solutions firm, acquired BNP Paribas Jersey Trust.