Virgin Group, the investment arm of billionaire Richard Branson 's family, is expanding the brand's travel empire by creating a cruise line with backing from Bain Capital Partners LLC. Virgin Cruises, which will be based in the Miami-Fort Lauderdale area, plans to design and construct two cruise ships , according to a statement today. The companies didn't disclose how much New York-based Bain is investing in the venture, and closely held Virgin Group didn't say when it will start operating, citing "competitive reasons."
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