Dynamic Credit Diversified Loan Fund invests in Tessin property loans
Heidi Wik, CEO Tessin. Photo by Tobias Björkgren
Dynamic Credit Diversified Loan Fund invests in Tessin property loans
Stockholm, Sweden - Tessin Nordic AB (publ) (NASDAQ: TESSIN) has closed an agreement with funds managed by Dynamic Credit, a Dutch asset manager in which BNP Paribas Asset Management is to acquire a majority stake*. The fund’s investments in Tessin property loans are expected to amount to SEK 200-300 million in 2022.
Founded in 2003, Dynamic Credit is an asset manager with over € 10 billion in assets under management. Dynamic Credit has built on its expertise within the origination and management of mortgage loans to source granular loan portfolios for its Diversified Loan Fund strategy, including personal loans, SME loans and now also property-backed loans.
“We are in a growth phase and the agreement with Dynamic Credit is a key component of our strategic initiative. We are augmenting our existing investor network with capital from institutional investors. In so doing, we are meeting the substantial demand for financing in the real estate sector and securing major project lending capacity, which entails faster growth for Tessin,” says Heidi Wik, CEO of Tessin Nordic Holding.
The agreement is between the Dynamic Credit Diversified Loan Fund and Tessin Capital. Tessin Capital, is a company within the Tessin Group that offers tailored investment offerings in property loans to large investors, such as UCITS funds and other institutions.
The investment by the Dynamic Credit Diversified Loan Fund is the second agreement with an institutional investor in the past six months. Praktikertjänst announced last July that it is investing a total of SEK 150 million in property loans via Tessin Capital.
“Roughly speaking, current building projects in Sweden add up to more than SEK 100 billion. Tessin Capital and institutional players like Dynamic Credit are making it possible for us to meet the growing need for financing faster, grow business volume and challenge major lenders,” says Tessin CEO Heidi Wik.
Tessin offers financing to property companies and property developers in Sweden and Finland. The loans are financed by a consortium of retail, professional and institutional investors via the Tessin digital platform.
* The Dynamic Credit Diversified Loan Fund is managed by Dynamic Credit Partners Europe B.V., a Dutch asset manager. Dynamic Credit Partners Europe B.V. is part of the Dynamic Credit group in which BNP Paribas Asset Management is to acquire a majority stake.