WL Ross Closes Fourth Private Equity Fund, Its Largest

Feb 5 2008 | 11:44am ET

WL Ross & Co. has held a final close at $4 billion for its latest private equity offering, which will make investments in financially distressed companies.

WLR Recovery Fund IV is the first launch by the firm since being acquired by Invesco in October 2006.

“We launched this fund, our largest to date, some months ago in anticipation of the turmoil that is now providing us with a wide range of distressed investment opportunities,” said Wilbur Ross, chairman of his namesake firm. “Invesco’s access to a broad range of investors and the depth of its global infrastructure support were key in allowing us to meet our funding goals.”

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    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…