MBIA investor Warburg Pincus buys more than 2.7 million shares

By Lisa Kerner

Charlotte, N.C., March 9 - Warburg Pincus Private Equity X, LP purchased a total of 2,728,764 shares of MBIA Inc. common stock on March 5 and March 6 in open market transactions for approximately $6.6 million.

The transactions were reported in a schedule 13D/A filed on Monday with the Securities and Exchange Commission.

Warburg beneficially owns 55,051,85 shares or 25% of MBIA's outstanding stock.

MBIA is a holding company based in Armonk, N.Y. Its subsidiaries provide financial guarantee insurance, fixed-income asset management and other specialized financial services.

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