Branson’s Virgin Group Said to Wind Down Private-Equity Unit
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Virgin Group Ltd., the investment group owned by Richard Branson, is to wind down its private-equity unit after canceling plans to raise a new fund, according to three people with knowledge of the matter.
Virgin’s buyout-firm executives dropped plans to raise $200 million to buy energy assets in central and eastern Europe with Russia-based investment firm Rusnano Capital earlier this year following a lack of investor interest, said the people, who asked not to be identified because they weren’t authorized to speak publicly.