Hudson Structured Capital Management (HSCM) has acquired the key business assets of Northern Shipping Funds, a leading provider of alternative capital to the shipping and offshore oil service industries.
The combined platform will manage shipping and transport investments across the capital structure, HSCM, said without disclosing the financial terms surrounding the deal.
Led by Sean Durkin and Sybren Hoekstra, NSF employs an asset-based approach to maritime lending. Northern is actively seeking investment opportunities for its newest fund, Northern Shipping Fund IV, which has $636m of commitments. Typical investment sizes range from $5m to $60m, with the ability to invest up to $200m through co-investment from its limited partners and third party capital.
“We view this as the next evolution of our business; one that expands our capabilities, better positions our existing team, and will help us deliver for our collective investors,” said Durkin.
“Combined, our platform has expanded investment capabilities across capital structures and unmatched technical expertise providing enhanced market positioning within maritime and potentially across broader transportation markets for years to come,” added David Andrews, HSCM co-founder and managing partner – transport.
The HSCM transport and maritime teams will continue to operate out of HSCM’s Stamford, Connecticut offices. Seward & Kissel acted as legal advisor to HSCM, while Watson Farley & Williams acted as legal advisor to NSF.
