Shipping fund venture launched
Kuwait Finance House has entered into a joint venture with SFS Group Public Co. Ltd. to establish a Shariah compliant shipping fund via a limited partnership in the Cayman Islands before the end of 2009.
The companies said they seek to create a fund with $150 million that will invest directly in shipping assets and primarily in vessels to be chartered out on a long-term basis to top league charterers.
“The fund will invest primarily in high quality and modern vessels with a reference for offshore ships such as offshore supply vessels and platform supply vessels among others,” the companies said.
Shipping fund venture launched
