Investment manager Invesco has closed its largest fund to date - a $4bn (Ã¢ÂÂ¬2.7bn) fund targeting distressed companies.

The WLR Recovery Fund IV was launched in 2007 in partnership with distressed debt and private equity firm WL Ross. The Recovery Fund is the first joint fund since Invesco acquired WL Ross in 2006.

Stephanie Baum

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Coutts hires ex-JPMorgan banker James Todd as next private client boss

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Todd replaces Camilla Stowell who left the NatWest-owned wealth in January

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Invesco closes $4bn distressed fund

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