WL Ross & Co

WL Ross & Co was acquired by Invesco (then Amvescap) in 2006 and operates as a wholly owned subsidiary within Invesco's private markets division. Wilbur Ross founded the firm in 2000 by purchasing the private equity operations of the same parent, creating a rare structure in which a distressed- turnaround platform has spent most of its existence inside a publicly traded asset manager.

The firm specialized in acquiring deeply distressed industrial companies — often out of bankruptcy — consolidating them within fragmented sectors, and restructuring them for sale. The most prominent example was rolling up bankrupt US steelmakers (Bethlehem Steel, LTV Steel, and others) into International Steel Group, which was sold to Mittal Steel in 2005 (per the Wall Street Journal, 2005).

After Wilbur Ross departed in 2017 to serve as US Secretary of Commerce, the platform continued as part of Invesco's private markets business. Public disclosure on current investment activity, team, and deployment is limited. The firm's distinct evolution inside a larger asset manager makes its investment-committee independence and dedicated fund structures less visible to outside allocators than standalone private equity firms.