Carlyle Group and Asian private equity firm, Tiger Group, have joined container ship owner, Seaspan, to establish a new joint venture, AltAssets reports. The venture will acquire around $5 billion worth of shipping vessels with a focus on the Asian market.
The new group seeks to invest around $900 million in equity capital during the next five years to buy container, dry bulk, tanker vessels and other shipping assets. Carlyle will make its equity contribution from the Carlyle Partners V and the Carlyle Asia Partners III funds.
Click here for the story from AltAssets.
click here for additional coverage from The Telegraph.