November 1, 2014

Florida Newsmakers of the Year

Business - Florida Newsmakers of the Year

Mike Vogel | 1/1/2011

• WILBUR ROSS JR.
Private equity investor - Palm Beach

Wilbur Ross Jr.
[Photo: Peter Yang/AUGUST]
Investing in Florida

Wilbur L. Ross Jr. made his name with turnarounds in steel, coal and auto parts. In 2010, he upped his stake in Florida. Ross in 2009 joined with John Kanas and other private equity investors to buy the parent of failed BankUnited, the largest Florida-based bank at the time, and put $900 million into it. Kanas became CEO. BankUnited is now set to go public. Last year, Ross became a minority owner of Ponte Vedra-based Capital Markets Cooperative, a secondary mortgage market player. He holds warrants that would enable him to become a majority holder. He participated in the Starwood syndicate that bought $4.7 billion in commercial mortgages from the FDIC, "mostly condo loans with a heavy concentration in Miami, Hollywood, Fort Lauderdale and Jupiter," Ross says.


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