KKR’s maiden maritime vehicle sets sail

The firm’s joint venture with CPPIB and Stone Point, MerchCap Solutions, helped to arrange some of the $580m in commitments for the new vehicle. 

KKR has launched a specialist maritime financing unit which will provide asset-backed debt capital to the shipping and offshore oil field services industries, the firm confirmed in a statement.

The US-headquartered alternatives manager has provided almost half the $580 million of equity used to capitalise the new business unit, called Maritime Finance Company.