Virgin Voyages raises $550 million in Ares Management-led fundraise
Tweet
Share
E-mail
FILE PHOTO: The Virgin Voyages Scarlet Lady cruise liner sits docked at Dover Port in Dover, Britain, February 21, 2020. REUTERS/Simon Dawson
(Reuters) - Virgin Voyages, the cruise brand from Richard Branson's Virgin Group, said on Friday it has raised $550 million in fresh capital to expand into new international markets.
The funding was led by Ares Management with participation from existing investors, including British conglomerate Virgin Group and venture capital firm Bain Capital.
Launched at the end of 2021, Virgin Voyages operates three ships servicing the Caribbean and the Mediterranean. It plans to operate in Australia and New Zealand by the end of the year.
The company also said founding Chief Executive Tom McAlpin will now be the chairman of its board. He will be succeeded by President and Chief Experience Officer Nirmal Saverimuttu.
(Reporting by Manya Saini in Bengaluru; Editing by Arun Koyyur)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Nepalis pin hopes on 'wall of the missing' in hunt for relatives after deadly flood
- Chair of Pacific leaders meeting urges united front on China missile test
- Vietnam court sentences 11 to death in major drug trafficking case, state media reports
Create E-mail Alert Related Categories
ReutersRelated Entities
Bain CapitalSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
