JP Morgan Adds Co-Managers for New Global Performing Credit Team
Vincent Lu and Brian Van Elslander were appointed Managing Directors and Co-Heads of JP Morgan Asset Management’s new Global Performing Credit Group.
Both are new positions, spokesman Sam Wallman said in an email. They relate to Meg mcclellan, Managing Director and Head of Private Credit.
The new globally performing credit group reflects an expansion of JPMAM’s private lending platform and will initially target direct lending opportunities, a press release said on Monday.
“With central bank liquidity at historic highs and interest rates remaining low, investors continue to seek sources of yield and downside protection,” McClennan said in the press release. “Global performing credit will leverage our extensive experience in alternative investment and differentiated sourcing capabilities to take advantage of significant opportunities in direct lending, which have been magnified by current market dynamics. “
MM. Lu and Van Elslander were previously Co-Heads of Private Strategies at Wells Fargo Asset Management. Mr. Van Elslander joined WFAM in 2018 when the Private Strategies practice was launched, and Mr. Lu joined WFAM a year later.
Sarah Kerr, spokesperson for Wells Fargo, confirmed their departures in an email and will not provide further information.
This company is undergoing an ownership transition and its sale to GTCR and Reverence Capital Partners is expected to be finalized in the second half of the year, when it will be renamed Allspring Global Investments.
As of June 30, JP Morgan Asset Management had $ 3 trillion in assets under management.