When Wilbur Ross, one of the world’s leading distressed asset investors, announced his first shipping investment on August 1, reactions within the shipping industry were mixed. Some welcomed Mr Ross’s investment as a sign that the steady recent trickle of private equity investment into the industry might turn into a flood of fresh capital.
Wilbur Ross and The Carlyle Group specialize in distressed asset turnarounds, some with lethal consequences. Carlyle recently executed a Chinese ships deal, after one Chinese affiliate had its stock trading suspended.
FT went on to say:
Some shipping industry figures say private equity return expectations are simply unrealistic.
Note: Private equity underwriters (PEUs) are the answer to America's ills in healthcare, infrastructure and education. How much Montana water would it take to float a Carlyle Chinese ship?