Mitsubishi-led PE fund targets more boxships

Mitsubishi-led PE fund targets more boxships

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.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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