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February 09, 2016 4:37 PM ET

Capital Markets

Company Overview of WL Ross & Co. LLC

Company Overview

WL Ross & Co. LLC is a private equity firm specializing in restructurings, buyouts, turnarounds, reorganizations, PIPEs, and industry consolidations. The firm invests in financially distressed companies. It also invests in the public equity markets. The firm invests in the undervalued stocks of companies. It prefers to invest in financial services including debt securities, distressed bank loans, mortgage, trade claims, and equity-linked securities, healthcare, textiles, wholesale distribution, energy, airline leasing, auto parts, metals, transportation, and mineral companies. It prefers to invest in Ireland, Japan, and China. It seeks to invest between $100 million and $200 million. The fir...

1166 Avenue of the Americas

27th Floor

New York, NY 10036

United States

Founded in 2000

Phone:

212-826-1100

Fax:

212-317-4891

Key Executives for WL Ross & Co. LLC

Founder, Chief Strategy Officer, Chairman, Member of the Office of the Chairman, and Member of Investment Committee
Age: 77
Chief Financial Officer and Member of the Investment Committee
Age: 44
Managing Director, Director, and Member of the Investment Committee
Age: 62
Co-Head, Senior Managing Director, Co-Leader, Chairman of Investment Committee and Member of the Office of the Chairman
Age: 42
Managing Director, Partner, and Member of the Investment Committee
Age: 40
Compensation as of Fiscal Year 2015.

WL Ross & Co. LLC Key Developments

Homeward Residential, QBE Insurance Corporation and WL Ross & Co. Face Class Action Lawsuit over Mortgage Escrow Charges for Force-Placed Hazard Insurance

A class action lawsuit has been filed against the mortgage servicing firm Homeward Residential, QBE Insurance Corporation, WL Ross & Co., and certain of their affiliates in connection with an allegedly unlawful scheme to recoup overstated disbursements for force-placed hazard insurance from homeowners.

Kirby McInerney LLP Files Lawsuit Against Homeward Residential Holdings Inc., QBE Insurance Corporation and WL Ross & Co

A putative class action lawsuit has been filed against Homeward Residential Holdings Inc., QBE Insurance Corporation, WL Ross & Co., and certain of their affiliates in connection with an allegedly unlawful scheme to recoup overstated reimbursements for force-placed hazard insurance from homeowners. The lawsuit, filed by the law firm of Kirby McInerney LLP, alleges that QBE Insurance and its affiliates gave Homeward secret premium rebates or kickbacks on its force-placed hazard insurance, but homeowners were nevertheless charged for reimbursement based on the full premiums materially in excess of Homeward's true costs, which had been reduced by the rebates. The overstated force-placed hazard insurance charges were incorporated into homeowners monthly mortgage bills, and charged to homeowners mortgage escrow accounts. Mortgages require borrowers to maintain insurance to protect the lenders interest in the property. If the borrowers insurance lapses, the mortgage entitles the lender to purchase force-placed hazard insurance and be reimbursed by the borrower for the cost. The lawsuit alleges that defendants concealed the alleged kickbacks by laundering them through sham and collusive transactions, including: $10 million paid to Homeward as purported compensation for fictitious marketing services, the issuance of warrants on QBE stock worth $85 million to WL Ross, which owned Homeward, more than $16 million in phony insurance commissions paid to Homeward, and at least $25 million in below-cost, outsourced mortgage servicing services provided to Homeward through an affiliate of QBE Insurance.

WL Ross & Co. LLC Presents at Capital Link’s 17th Annual Greek Investor Forum, Dec-14-2015 02:45 PM

WL Ross & Co. LLC Presents at Capital Link’s 17th Annual Greek Investor Forum, Dec-14-2015 02:45 PM. Venue: The Metropolitan Club, One East 60th St., New York, New York, United States. Speakers: Wilbur Louis Ross, Founder, Chief Strategy Officer, Chairman, Member of the Office of the Chairman, and Member of Investment Committee.

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