M2M launches shipping private equity fund

Shipping investment group M2M Management has launched Global Maritime Assets (GMA), a $400m private equity fund focusing on the acquisition of shipping vessels. The new fund will be managed by Steve Rodley, Stuart Rae and Tim Coffin.

GMA will acquire and operate vessels sold by owners, lenders and shipyards. Its strategy is to buy a fleet of ships with a holding or operating period of up to 10 years, so returns will come from both operating the ships as well as the relative increase in asset value of the fleet over the period. In 2006, M2M launched the Global Maritime Investments (GMI) hedge fund, which returned 23.6% annualised since inception.

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