Liquidity Event

In these difficult times, it is a pleasure to report on a positive “liquidity event.” Last week, Northern Shipping Fund I LLC opened its doors to business having completed a first closing of $112 million in equity. The company expects to complete a second closing within a few months.

With lending from all but a few banks virtually frozen, the sponsors’ timing could not have been more propitious. Being liquid in these times as well as having an ability to underwrite transactions will allow the fund to have the pick of the deals out there and, as can be seen from the above article, a new entrant, with capital and no exposure, may hold all the cards.

By way of background, some history is in order.

This is only an excerpt of Liquidity Event

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