SIR RICHARD BRANSON'S Virgin empire could go public as part of a new strategy in which the group will act as a consumer-focused private equity investment firm, a report revealed yesterday.

Chief executive Stephen Murphy said in an interview with The Times that Virgin planned to adopt an investment strategy similar to that used by global private equity groups such as Blackstone and Apax Partners.

The group looks likely to sell the businesses it owns on the stock market, starting with the planned flotation of Virgin Mobile USA, a venture between Virgin Group and US telecoms operator Sprint Nextel, on the New York Stock Exchange.

Virgin Active, the group's fitness club chain, could be next up for a public listing, with Virgin Atlantic airline also possibly in line for a flotation if major shareholder Singapore Airlines decides to sell its 49 per cent stake.

The strategy marks a significant U-turn for Virgin, which has shunned life in the public glare after a brief appearance on the stock market 20 years ago.

Virgin Group listed in 1986, but was taken private only two years later amid Sir Richard's frustration with the short-termist City investment attitude.

The group, run by an executive committee after Sir Richard took a back seat from day-to-day running, reportedly aims to use the stock market to help expand Virgin-branded investments.