In the latest deal, the benefit to Dusseldorf-based WestLB is cash to shore up listing finances. The commercial bank has reported losses and negative free-cash flow for the last three years, with negative return on equity and a price-to-tangible book ratio of less than 1, according to data provided by FactSet. The company is undergoing a restructuring in which it is spinning off traditional banking business to focus on asset management, credit analysis, treasury services and other corporate functions.

The San Francisco-based Wells Fargo gets to add to its existing subscription-finance portfolio, which provides fairly short-term loans to private equity and real estate investment funds. The loans have average maturities of three years--the WestLB loan book averages 1.8 years--and can serve as bridge financing for funds that need cash faster than their investors can put it up.

The loans are secured by the capital commitments investors make to the funds that are borrowing the money. Terms weren't disclosed.