“We are looking to invest in shipping,” said company director Nicholas M Petrakakos, whose hiring was announced in June. Before joining Z Capital, Petrakakos was a director at the asset-management arm of tanker operator Heidmar Inc, which is co-owned by major Greek shipowner George Economou.

Z Capital has so far invested in a wide range of industries, including hotels and gaming, splitting its bets between investing directly in companies and in debt instruments.

“Most