SSY and Carnegie form ship finance joint venture
London-based shipbroker Simpson Spence Young (SSY) has formed SSY Carnegie LLP, a joint venture (JV) with Nordic investment bank Carnegie that will offer shipping-related project finance and investment banking services.
SSY Carnegie will concentrate on transaction opportunities within debt and equity capital markets, as well as mergers and acquisitions (M&As) and initial public offerings.
The 50:50 partners will share research intelligence and undertake joint marketing activities, SSY said.
“This deal will enable our brokers to offer their clients access to competitive financing to facilitate the transaction of physical sales and purchase and chartering deals. We can now provide our clients with an integrated offering of physical and derivative broking, together with a strong financial component,” said Mark Richardson, SSY’s vice-chairman (pictured).
SSY’s chairman John Welham said the JV would assist in “finding creative solutions for debt restructuring and financial workouts”.
The JV company will be based from SSY’s office in London.