The Schulte Group is behind a new fund planning to invest $120m in smaller bulkers and containerships.
The family-run shipping group is the anchor investor in Cyprus-based maritime fund Hanseatic Capital Management (HCM).
It will invest in secondhand handysize and supramax bulk carriers, and container feeders, aged between four and 15 years old.
The first fund, Hanseatic Fund VCIC, plans to “initially” raise $120m.
"HCM will concentrate on a commercially balanced employment strategy, which will include both shorter and period charters, depending on the vessel segment,” a statement reads.