PURCHASE, N.Y.--(BUSINESS WIRE)--Greywolf Capital Management LP (“Greywolf” or the “Firm”), a Purchase, New York-based alternative asset manager with approximately $4 billion in assets under management, today announced the final close of its Greywolf Containership Opportunities Fund II (the “Fund”) 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. The Fund brings Greywolf’s total capital commitments dedicated to maritime strategies to approximately $330 million.
Greywolf’s maritime strategies are led by Managing Director James Kelly and are primarily focused on the opportunistic ownership of commercial ships leased to major international shipping companies. 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.
“We are grateful for the support from returning and new LPs in this continued expansion of Greywolf’s hard assets maritime platform,” said Mr. Kelly. “We believe our targeted approach has produced a portfolio of attractive investments to-date, and we see future opportunities in rapidly evolving geopolitical, global trade, and energy landscapes – all developments likely to meaningfully impact the way we ship goods in the future.”
Jon Savitz, CEO & CIO of Greywolf, stated, “At Greywolf, we target niche opportunities to take advantage of particular stresses in markets. Our maritime strategies are an excellent representation of that approach.”
The Fund was brought to market by Briarcliffe Credit Partners, a leading placement agency dedicated exclusively to private credit. “Briarcliffe was pleased for the opportunity to partner with Greywolf for its fundraise,” Jess Larsen, Founder & CEO of Briarcliffe, said. “Investors value our highly selective approach which identifies differentiated private credit strategies. This Fund serves as a perfect example of that approach.”
About Greywolf Capital Management, LP
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.
About Briarcliffe Credit Partners, LLC
Briarcliffe Credit Partners is a placement agency dedicated exclusively to private credit. Headquartered in New York, Briarcliffe seeks to capitalize on the increasing complexity and continuing growth of the $1.5 trillion private credit market. It provides fundraising services to investment firms focusing on niche private credit strategies outside direct lending, with fund sizes between $500 million and $2 billion. Just 18 months after its founding, in March 2023, Briarcliffe was recognized by the industry through its selection as the Private Debt Investor 2022 Advisory & Placement Agent of the Year (Americas). For more information, visit www.briarcliffepartners.com.