Wilbur Ross Teaming With Virgin Money To Bid For Northern Rock

Wilbur Ross, billionaire investor, chairman and chief executive of private equity and turnaround firm WL Ross & Co, said on Thursday he was "quite possibly" interested in teaming up with Richard Branson's Virgin Money to bid for state-owned British bank Northern Rock.

Ross said that “Virgin Money's recent acquisition of a small provincial bank would help in the process.” Ross was part of a group led by Virgin Money that bid for Northern Rock in 2008. Northern Rock was Britain's first victim of the global banking crisis and ended up being nationalized. He also reported that his firm's latest fund was around 60 percent invested, and he expects it to be fully invested long before the end of the year.