ECM Asset Management (ECM), an investment management firm owned by Wells Fargo Asset Management, is planning to launch a new infrastructure debt fund that includes pooled vehicles and segregated accounts.
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The fund will invest in senior limited-recourse debt for the construction and operation of infrastructure projects and utilities in continental Europe and the UK.
The fund will invest in projects in countries including Britain, Germany, France, Belgium, the Netherlands, Italy and Spain, ECM Asset Management said in a statement.
The infrastructure debt fund will invest in sectors such as renewable energy, social infrastructure, transport, power, oil & gas, telecoms and utilities.
The fund seeks to acquire infrastructure debt assets on a buy-and-hold basis creating a highly diversified portfolio of high value/low risk assets.
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By GlobalDataNicola Beretta Covacivich, head of infrastructure finance at ECM, said: "With government funding reduced globally and banks’ appetite for long term lending structurally diminished by Basel III new capital and liquidity rules, funding is evolving as these traditional sources decrease. European infrastructure investments are expected to be approximately 2.5tn through to 2020."
