Dynamic Credit started in New York as a fixed-income asset management firm, extending our services with an advisory practice in the following years, eventually becoming a full-service asset manager and direct lender headquartered in Amsterdam. Dynamic Credit is organised along product lines: Multi Strategy Asset Management, Direct Lending Netherlands, and LoanClear. Within those product lines, our people tap into their expertise to service both investors and borrowers, and develop the software required to exceed expectations.
Key Functions (like legal, compliance, risk, talent management, finance, IT, office management) make sure the organisation can function and grow in the most optimal way. In 2022, BNP Paribas Asset Management (BNPP AM) became a majority shareholder, which allows Dynamic Credit access to a large and global distribution network. With the backing of a leading asset manager, Dynamic Credit can further build on its skillset in originating and managing loan portfolios, while significantly growing the asset base of BNPP AM.
During the global financial crisis in 2008-2009 Tonko advised the Dutch Central Bank and the Ministry of Finance on the solution for the US mortgage issues ING Bank was facing, giving the Dutch taxpayer a positive return of € 1.4 billion.
Frederik Roeskestraat 97-D
1076 EC Amsterdam
With interest rates increasing further and consumer confidence at low levels, cracks are appearing in housing markets across the globe. In the Netherlands the first significant house price decrease was printed in September with a -0.7% on average. Compared to several countries where it is common to have variable mortgage rates or short fixed rate periods, borrowers in the Netherlands have fixed rates for a long period (20 years was most popular). As such the transition to a higher rate environment will be more gradual for households than in some other jurisdictions. Furthermore, Dutch homeowners are able to port their mortgage to a new property, giving them more flexibility and thereby reducing the lock-in effect. Spreads have reduced during 2022-Q3 due to high swap rate volatility. However we do see spreads widening quarter to date with 88 bps on average.