Northern Shipping Fund Management LLC Announces Final Closing Of Northern Shipping Fund IV LP
STAMFORD, Conn., Feb. 25, 2021 /PRNewswire/ -- 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."
About Northern Shipping Fund Management LLC
Northern Shipping is a leading alternative capital provider to the maritime industry. Headquartered in Stamford, CT, Northern Shipping is led by Sean Durkin and Sybren Hoekstra. With expertise in maritime finance, commercial management, technical management, insurance, vessel operations, and naval architecture, key members of the team bring two decades of experience working together and over 200 years of industry experience collectively. Utilizing an asset-based approach to alternative maritime credit, Northern Shipping represents a stable source of capital, providing structuring flexibility and superior execution. Further information is available at northernshippingfunds.com or contact [email protected].
Contact:
John M. Daly
Director of Investor Relations
+1 203 706 2203
[email protected]
SOURCE Northern Shipping Fund Management LLC
Related Links
https://www.northernshippingfunds.com/
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