Mitsubishi-Led Fund Reaches USD 300 Mln

The private equity fund, focused on investments in the container shipping market, has closed with total capital commitments of USD 300 million, Mitsubishi Corporation (MC) informed.

The MC Seamax Shipping Opportunities Fund, L.P., managed by MC-Seamax Management Limited, is a joint venture between MC Asset Management Holdings, LLC, a 100% subsidiary of MC, and Seamax Partners LLC.

The Fund has closed with total capital commitments of USD 300 million from institutional investors in North America, Europe and Japan, including MC’s commitment of USD 50 million.

The Fund is intended to generate a stable income through the acquisition and leasing of container vessels to major liners.

It currently has a portfolio of six container vessels with a total carrying capacity of over 45,000 TEU on time charters (leases) to the world’s leading liner companies.

Mitsubishi plans to avail of the historically low levels of vessel values that resulted from oversupply in the container shipping market, to continue its deployment of capital in an effort to acquire prime assets.
 
“Leveraging its deep industrial knowledge, MC will continue to promote its asset management business focused on real assets through its group companies, with the aim of providing unique investment opportunities to institutional investors around the world,” Mitsubishi said.