A slow spin

How distressed investor Wilbur Ross is looking to turn around his maiden Indian investment — suiting player OCM

Vishal Koul

At 76, Wilbur Ross is showing no signs of slowing down. The distressed asset investor, who manages over $7 billion in assets through his New York-based investment firm WL Ross & Co, is looking to raise over $2 billion by floating a new PE fund. The reason is not that hard to fathom — an investor who made his billions buying stressed assets across steel, banks, coal, auto and textiles is now rubbing his hands in glee at the prospect of picking up stocks of distressed small and mid-cap Canadian and US energy companies.