WL Ross Misses Target With $640 Million Raised From Investors
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Billionaire Wilbur Ross Jr. raised about $640 million from investors for a new private-equity fund to buy distressed assets, falling short of a $2 billion goal.
WL Ross & Co., a New York-based unit of investment manager Invesco Ltd., closed the fund in June after cutting its original $4 billion target in half and receiving a nine-month extension to continue raising money. WLR Recovery Fund V LP will carry a