Greywolf raises $120 million for specialized martime strategy

June 15, 2023

Briarcliffe represents Greywolf Capital Management

Greywolf Capital Management, a Purchase, New York-based alternative asset manager with approximately $4 billion in assets under management, held a final close of its Greywolf Containership Opportunities Fund II with approximately $120 million of committed capital.

The raise builds on a strategy initially launched with its predecessor fund, Greywolf Containership Opportunities Fund I, which held its final close in December 2020. Fund II brings Greywolf’s total capital commitments dedicated to maritime strategies to approximately $330 million. The strategies seek to capitalize on developments in both global supply chains and commercial shipping fleets, which Greywolf believes has created opportunities to secure attractive investments in the sector. Greywolf currently manages investments across the strategy in 22 container ships.

The Fund was brought to market by Briarcliffe Credit Partners. Founder & CEO, Jess Larsen, said, “investors value Briarcliffe's highly selective approach which identifies differentiated private credit strategies. Greywolf's maritime strategy [Fund II] serves as a perfect example of that approach.”

The close was reported by Private Debt Investor, which referenced Managing Director James Kelly, who leads Greywolf's maritime strategies, describing the strategy as "hard asset ownership." He continued, "The Fund directly owns ships in the middle of their useful life, often with existing leases to major commercial operators for periods of between 18 months and three years, providing income on top of underlying asset value."

Founded in 2003, Greywolf Capital Management LP is a registered investment adviser with approximately $4 billion in assets under management allocated across Shipping, Distressed, Event Driven, and CLO Credit Strategies. The firm seeks to combine expertise developed over its history with time-tested portfolio management skills to offer attractive, risk-adjusted returns over the long term with little correlation to the broad-based markets. The firm was founded by CEO & CIO Jon Savitz and comprises 32 professionals, including 14 dedicated investment professionals.

Click below to read Greywolf's press release.

Read Greywolf's Press Release

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