• Home
  • News
    • People moves
    • Africa
    • Asia
    • Australia
    • Canada
    • Caribbean
    • Domicile
    • Europe
    • Latin America
    • North America
    • Middle East
    • US
    • US
    • UK
  • Products
    • Funds
    • Pensions
    • Platforms
    • Insurance
    • Investments
    • Private Banking
    • Citizenship
    • Taxation
  • Fintech
  • Regulation
  • ESG
  • Expats
  • In Depth
  • Special Reports
  • Directory
  • Video
  • Advertise with us
  • Directory
  • Events
  • European Fund Selector
  • Newsletters
  • Follow us
    • Twitter
    • LinkedIn
    • Newsletters
  • Advertise with us
  • Directory
  • Events
    • Upcoming events
      event logo
      International Investment Nordic Forum 2021

      International Investment is delighted to announce the 2021 International Investment Nordic Forum which will take place on Tuesday March 9, at 9am (GMT). This curated virtual event will be broadcast live and will feature a series of fund manager interviews and presentations, as well as interviews with some of the Nordic regions top fund selectors.

      • Date: 09 Mar 2021
      • ONLINE, ONLINE
      event logo
      Sustainable Investment Festival 2021

      The Sustainable Investment Festival will run online from 22-25 June and will include thought-provoking presentations from renowned keynote speakers, innovative breakout events and sessions specifically tailored to meet the information needs of fund selectors, financial advisers, pension consultants, trustees and scheme managers.

      • Date: 22 Jun 2021
      • Online, Online
      View all events
  • European Fund Selector
International Investment
International Investment

Sponsored by

Sharing Alpha
  • Home
  • News
  • Products
  • Fintech
  • Regulation
  • ESG
  • Expats
  • In Depth
  • Special Reports
  • Video
  • Alternative

Legg Mason targets shipping industry debt with fund float

Legg Mason targets shipping industry debt with fund float
  • Jonathan Boyd
  • Jonathan Boyd
  • 18 September 2018
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  

EnTrustPermal, an affiliate of Legg Mason, has launched an IPO on the London Stock Exchange to raise $250m for the Blue Ocean Maritime Income investment trust, which will target direct lending to the shipping industry.

The manager estimates an ongoing annual debt requirement of some $80bn in the industry, which since the 2008 financial crisis has seen access to traditional sources of financing via banks disappear. Before the crisis, European banks provided more than 80% of the industry’s financing.

Related articles

  • TRAP - The Race Against Plastic: Charity run returns to Stockholm
  • How do they determine levels for the shipping Baltic Dry Index?
  • Franklin Templeton to acquire Legg Mason in all-cash deal of $4.5bn
  • Franklin Templeton to acquire Legg Mason in all-cash deal of $4.5bn

The fund targets a yield of 7% annually by lending to what it defines as “high quality” shipping companies, predominantly SMEs.

The strategy has been pursued since September 2016, lending some $300m to finance 55 vessels, the manger said.

The IPO is open for a month. Details are available via www.blueoceanplc.com.

EnTrustPermal is an alternative manager with some $20.7bn in assets under management.

 

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  
  • Topics
  • Alternative
  • North America
  • UK
  • Alternative Investments
  • Legg Mason

More on Alternative

HSBC AM unveils new alternatives investment team

  • Alternative
  • 17 February 2021
Janus Henderson Investors launches multi-strategy UCITS fund

  • Alternative
  • 03 June 2020
Law firm comments Esma shorting policy amid Coronavirus crisis

  • Alternative
  • 19 March 2020
Columbia Threadneedle suspends dealing in retail property fund

  • Alternative
  • 19 March 2020
AMX adds two to Irish operations

  • Alternative
  • 18 March 2020
Back to Top

Most read

Global UHNWI population to grow by 27% over the next five years: Knight Frank
Global UHNWI population to grow by 27% over the next five years: Knight Frank
Amati Global Investors launches strategic metals fund
Amati Global Investors launches strategic metals fund
Aviva announces exit from Turkey
Aviva announces exit from Turkey
HSBC Malaysia appoints head of global banking
HSBC Malaysia appoints head of global banking
Erratic Bitcoin leaves industry divided as Square invests $170m
Erratic Bitcoin leaves industry divided as Square invests $170m
  • Contact Us
  • Marketing solutions
  • About Incisive Media
  • Terms and conditions
  • Policies
  • Careers
  • Twitter
  • LinkedIn
  • Newsletters

© Incisive Business Media (IP) Limited, Published by Incisive Business Media Limited, New London House, 172 Drury Lane, London WC2B 5QR, registered in England and Wales with company registration numbers 09177174 & 09178013

Digital publisher of the year
Digital publisher of the year 2010, 2013, 2016 & 2017
Loading