Northern Shipping Funds has raised $379 million for its Northern Shipping Fund III, according to a SEC filing. The Stamford-headquartered firm began fundraising in 2015 with a $400 million target.
Its previous fund raised $205 million in 2014.
Investors that committed to Northern Shipping Fund III include the Arizona Public Safety Personnel Retirement System, the Teachers' Retirement System of the State of Illinois and the Oregon Public Employees' Retirement System.
The fund will target subordinated/mezzanine debt opportunities in transport sectors globally.