WL Ross struggles to raise new fund
WL Ross & Co. has cut its target for its latest fund to $2-2.5 billion, having raised little more than one tenth of the $4 billion it set out to attract last year, The Wall Street Journal reported, citing people familiar with the situation.
The private equity firm's difficulties rest on two issues. First, there are concerns about who will succeed founder Wilber Ross Jr., who is 73. Although Ross has stressed his commitment to the firm - which...
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