BNP Paribas Asset Management has acquired a majority stake in Dutch asset manager and specialist lender Dynamic Credit Group.
The deal brings the total assets under management to €20bn for BNP AM’s private debt and real assets investment division.
BNPP’s David Bouchoucha said the deal “marks an important step” in the development of the French banking group’s private debt platform.
He added: “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.”
Shares in BNPP were lifted slightly on Friday morning, up half a percentage point.