Wilbur Ross Not Buying AIG Unit, Would Consider Northern Rock

NEW YORK (Reuters) – Billionaire investor Wilbur Ross on Thursday said he was not considering buying American International Group’s (AIG.N) mortgage insurance unit United Guaranty.

“It is certainly the case that we’re not buying the division,” Ross said in an interview with Reuters Insider. “We do think the mortgage insurance space is an interesting one and we hope to be in it at some point, but we have no transaction right now.”

Ross, chairman and chief executive of private equity and turnaround firm WL Ross & Co, said the firm’s latest fund was around 60 percent invested, and he expects it to be fully invested long before the end of the year.

Ross also said he was “quite possibly” interested in teaming up with Richard Branson’s Virgin Money to bid for state-owned British bank Northern Rock.

Ross was part of a group led by Virgin that bid for Northern Rock in 2008. (Reporting by Michael Erman, editing by Maureen Bavdek)