Norway's NRP Maritime Asset Management (MAM) aims to capitalise on shipping's funding gap with a new fund in Luxembourg.
The finance house said its Premium Maritime Credit Fund (PMCF) has now achieved its first close, and will offer first-lien loans with a strong focus on small and medium-sized European shipowners that have no opportunity to arrange traditional bank financing.
The Oslo-based asset manager said it has used Luxembourg's reserved alternative investment fund (RAIF) structure for the deal, which is backed by “significant” European and Norwegian-based institutional investors and family offices.
