The $500m distressed-assets fund set up by George Economou and New York-based MatlinPatterson LP in June has bought its first vessel and is keeping a lookout for more bargains.
Private interests connected with Economou were said to have bought at auction the 92,500-dwt bulker newbuilding Susy, due for delivery from Jiangsu New Yangzijiang Shipyard this month.
It now emerges, however, that the ship will come under the control of Oceanus LLP, the holding company that is set to handle the fund’s acquisitions.
The
