Cruise Capital reported on the new venture, back in February 2014. Now, Sky News has revealed that Bain Capital, the private equity group behind major companies, such as Toys R' Us, will work with Virgin.
Bain will not be the only external shareholder. At least one Middle East sovereign wealth fund and a number of family offices and high net worth individuals are also believed to be participating, according to private equity sources.
Virgin Cruises hopes to build 2 ships, with a launch date of 2019, based in Miami, competing against main industry players, such as Carnival Corporation and Royal Caribbean Cruises Ltd.