Daily News: September 6, 2012

Wells Fargo ECM Asset Management Unit Launches Fund

Bloomberg reported that ECM Asset Management, a London-based money manager owned by Wells Fargo, started its first fund that will buy both senior secured loans and high-yield bonds.

Bloomberg said, the investment vehicle, with a €500 million ($628 million) target size, will focus on borrowers from northern non-peripheral European countries, including Germany, the UK and France.

According to Bloomberg, Torben Ronberg, head of loans at ECM, will be the lead manager for the fund, along with Andre Mazzella.

To read the Bloomberg story, click here.