Invesco And WL Ross Lead Group Prepared To Commit $1 Billion To PPIP

Posted by Orb Staff on April 28, 2009 No Comments
Categories : Residential Mortgage

o Ltd. and its WL Ross Co. affiliate say they will participate in the government's Public-Private Investment Program (PPIP). Additionally, the LeFrak Organization, Assured Guaranty Ltd. and American Home Mortgage Servicing Inc. have joined to provide insights to the Invesco investment team. Strategic partnerships have also been created with a securities firm, Muriel Siebert and Co. and with investment banking and investment advisory firm Williams Capital Group and the Jackson Securities affiliate of Atlanta Life Financial Group. ‘We strongly believe that the Public-Private Investment Program will help stimulate the mortgage market and provide individual and institutional investors globally with compelling investment opportunities in the Legacy Securities and Legacy Loan programs," says Martin L. Flanagan, president and CEO of Invesco. Wilbur Ross, chairman of WL Ross, says the group is prepared to invest up to $1 billion in the government's programs. SOURCE:

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