12 West stake revealed

12 West Capital has amassed a 22.4% slice of Diana Containerships, the US investor has revealed.

The fund holds 16,436,255 shares in the shipowner, according to an SEC filing that shows its involvement in a private placement represented only part of its interest in the company.

As TradeWinds revealed last week, 12 West bought $40m worth of shock as Diana Containerships completed a $92m fundraiser.

It purchased 15,936,255 of its shares in the private placement, having bought stock in 11 smaller bundles the previous day, the filing said.

Late last week Diana Containerships started to set the funds from the equity issue to work.

It paid $22.2m each for the 5,576-teu YM March and YM Great (both built 2004).

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