BNP Paribas Takes Majority Stake in Dutch Asset Manager
15 Septiembre 2021 - 4:35AM
Noticias Dow Jones
By Joshua Kirby
BNP Paribas SA said Wednesday that it is acquiring a majority
stake in Dutch asset manager Dynamic Credit.
Dynamic Credit has 9 billion euros ($10.62 billion) in assets
under management--primarily in Dutch mortgages--, which is close to
the EUR11 billion currently managed by BNP Paribas Asset
Management's private-debt and real-assets divisions, the French
bank said. It will be incorporated into the division, where it will
operate as a separate entity under Dynamic Credit founder and Chief
Executive Tonko Gast.
The acquisition is in line with BNP Paribas Asset Management's
strategic focus on expanding its investment platform, the bank
said.
BNP Paribas didn't disclose the financial details of the
acquisition, which is subject to regulatory approval.
Write to Joshua Kirby at joshua.kirby@wsj.com;
@joshualeokirby
(END) Dow Jones Newswires
September 15, 2021 05:20 ET (09:20 GMT)
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