Tokyo: Mitsubishi Corporation has announced the final close of MC Seamax Shipping Opportunities Fund, a private equity fund, which is managed by MC-Seamax Management, a joint venture between MC Asset Management Holdings, a 100% subsidiary of Mitsubishi, and US-based Seamax Partners. The fund is focused on investments in the container shipping market.
The fund has closed with total capital commitments of $300m from institutional investors in North America, Europe and Japan, including Mitsubishi’s commitment of $50m.
The fund aims to buy and charter ships to major liners. It currently has six ships with a total of more than 45,000 slots on charter to a number of large carriers.
“The fund will continue its deployment of capital in an effort to acquire prime assets,” a press release noted today.