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Private equity loosens grip on NCL board
TGP and Apollo directors resign after firms cut stake in New York-listed cruise line.
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Found an interesting story?
Private equity loosens grip on NCL board
TGP and Apollo directors resign after firms cut stake in New York-listed cruise line.
Norwegian Cruise Line (NCL) said two board members who represent its key private-equity shareholders have resigned.
The move reduces Apollo Global Management’s role on the New York-listed cruiseship owner’s board and marks TPG Capital’s complete exit.
Both firms were major shareholders before NCL’s initial public offering (IPO) in 2013 and have since reduced their holding.
NCL said the resignations included Karl Peterson, a senior partner at TPG and managing partner of its European division.
Also quitting the board is Kevin Crowe, who is a
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