Microstates of Four-Dimensional Rotating Black Holes from Near-Horizon   Geometry
  We show that a class of four-dimensional rotating black holes allow five-dimensional embeddings as black rotating strings. Their near-horizon geometry factorizes locally as a product of the three-dimensional anti-deSitter space-time and a two-dimensional sphere (AdS_3 x S^2), with angular momentum encoded in the global space-time structure. Following the observation that the isometries on the AdS_3 space induce a two-dimensional (super)conformal field theory on the boundary, we reproduce the microscopic entropy with the correct dependence on the black hole angular momentum. 
Mirjam Cvetic and Finn Larsen