Paris-headquartered BNP Paribas Asset Management has agreed to buy a majority stake in Amsterdam-based specialist lender Dynamic Credit Group in a move to build its exposure to the alternative investments space.

The Dutch asset manager, which has €9bn in assets under management, will be able to access a larger distribution network as a result of the deal, BNP Paribas said in a statement today (15 September).

"Given their attractive risk-return profile and low capital charge under Solvency II, Dutch mortgages are a very attractive investment for institutional investors in the ongoing low interest rate environment. Investments in Dutch mortgages are expected to continue to grow steadily," said BNP Paribas.

The price of the acquisition was not disclosed.