WL Ross & Co. has closed its fourth fund with $4 billion in capital commitments. The firm focuses on financially-distressed companies, and became part of Invesco in October 2006.
Invesco Ltd. announces that the WLR Recovery Fund IV, LP has held its final closing. The fund received commitments of $4 billion and will invest in and restructure financially distressed companies.
“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 L. Ross, Jr., chairman of WL Ross & Co. “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.”
“This fund illustrates that the joining of forces of WL Ross & Co. and Invesco has resulted in tangible benefits for our clients and shareholders,” said Martin L. Flanagan, president and chief executive officer of Invesco. “I am pleased that the first joint effort with our partners at WL Ross & Co. has been such a solid success.”
About WL Ross &
WL Ross & Co., part of Invesco since October 2006, invests in and restructures financially distressed companies with an objective toward creating new, world-class enterprises. The WL Ross & Co. investment committee has worked together for more than ten years and has more than twenty years average experience in bankruptcy advisory, corporate finance, credit