The present invention relates to a pigment paste comprising at least one aqueous dispersion comprising at least one copolymer, said copolymer being preparable by (i) initially charging an aqueous dispersion of at least one polyurethane, and then (ii) polymerizing a mixture of olefinically unsaturated monomers in the presence of the polyurethane from (i), in which (a) a water-soluble initiator is used, (b) the olefinically unsaturated monomers are metered in such that a concentration of 6.0% by weight, based on the total amount of olefinically unsaturated monomers used for polymerization, in the reaction solution is not exceeded over the entire reaction time, and (c) the mixture of the olefinically unsaturated monomers comprises at least one polyolefinically unsaturated monomer, and further comprising a pigment, where the weight ratio of pigment to copolymer is at least 1.5. The invention further relates to the use of the copolymer for dispersion of pigments.