Evergreen Investments, the asset management arm of Wachovia Corp., announced that it had completed its purchase of a majority interest in the privately held European Credit Management Ltd. of London, a fixed income investment manager with $26 billion under management.
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The combined organization has about $300 billion of assets under management, Evergreen said Thursday. It has a distribution network in nine countries, client relationships in 40 countries, and more than 2,400 institutional clients and three million individual shareholders.
Evergreen, which is based in Boston, had $273 billion under management at Dec. 31.
