Navigate this market better. Subscribe for FREE stock alerts and information.

Tuesday, October 14, 2014

Wilbur Ross to seek up to $2 billion for private equity fund -Bloomberg, (NYSE: IVZ)

WL Ross & Co, run by U.S. billionaire Wilbur Ross, is seeking as much as $2 billion for its next private equity fund, Bloomberg reported on Tuesday. The company is targeting between $1 billion to $2 billion, Bloomberg said, citing two people familiar with the matter. ( $1 billion to $2 billion WL Ross will seek does not include separate accounts or side-by-side capital, Bloomberg reporting, citing one of the people.A unit of asset manager Invesco Ltd, WL Ross & Co invests in and restructures financially distressed companies focusing on energy, financial services, health care, heavy materials and transportation sectors.Invesco could not immediately be reached for a comment.

Invesco Ltd. (Invesco) is an investment manager, dedicated to helping investors worldwide achieve their financial objectives. Shares of IVZ fell by 0.92% or $-0.33/share to $35.73. In the past year, the shares have traded as low as $31.50 and as high as $41.44. On average, 2614480 shares of IVZ exchange hands on a given day and today's volume is recorded at 5035539.