Northern Shipping Fund Management LLC Announces Final Closing Of Northern Shipping Fund IV LP
Northern Shipping Fund Management LLC (“Northern Shipping”) announced that it had a final closing for Northern Shipping Fund IV LP (“NSF IV”) with total investor commitments of $636 million, exceeding its $600 million target. NSF IV received commitments from new and existing investors, including public and private pension funds, insurance companies and other institutions.
Sean Durkin, Managing Partner, Northern Shipping, commented: “Northern Shipping is very pleased to have the continued support of our existing institutional investors and to welcome new investors to share in our maritime asset-based credit strategy.”
Sybren Hoekstra, Managing Partner, Northern Shipping, said: “We believe that opportunities to provide alternative financing solutions to vessel owners and operators continue to expand as the reduction in traditional bank lending to the maritime industry has accelerated during the Covid-19 pandemic.”
Source: Northern Shipping Fund Management LLC