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Invesco WL Ross, Huaneng Capital Services form joint venture targeting power investments in China16/09/2008. Source: AltAssets. 
 Invesco WL Ross, a partnership between private equity firm WL Ross & Co. and investment manager Invesco, has joined with Huaneng Capital Services, a subsidiary of power producer China Huaneng Group, to form joint venture Huaneng Invesco WLR Investment Consulting Company, targeting private equity investment opportunities in power generation.
'Combining Invesco's global investment capabilities, particularly the deep private equity expertise of Wilbur Ross and his experienced team who have been involved in many power generation and coal company restructurings over the years, with China Huaneng Group's knowledge of the energy industry in China will present compelling investment opportunities,' said Martin L Flanagan, president and CEO, Invesco.
Wilbur Ross, chairman, Invesco WL Ross, added, 'This unique collaboration may become the model for the new private equity industry in China.'
Shen Zhongmin has been appointed as CEO of the new company. Previously, he was a managing director at power company CLP Holdings.
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