Friday, 26 August 2016
Last updated 13 min ago
Mar 26 2010 | 4:03am ET
A hedge fund, a private equity fund and a shipping company aren’t walking into a bar, but they are setting up a joint-venture.
Euromar will invest in the shipping industry, including seafaring vessels. The new vehicle is backed by Eton Park Capital Management, p.e. shop Rhone Capital and shipping company Euroseas, which will manage the joint venture.
Each of the alts. firms is putting up $75 million towards Euromar’s investments, with Euroseas adding $25 million, in addition to its expertise. Each of the three firms will have two representatives on the new company’s board of directors.