V.SHIPS OBTAINS FUNDING FROM CLOSE BROTHERS

V.SHIPS OBTAINS FUNDING FROM CLOSE BROTHERS

   V.Ships, a London-based vessel management and shipping services group, has received $30 million in funding from Close Brothers Private Equity, part of the Close Brothers Group plc., a financial services organization.

   Neil Murphy, a partner in Close Brothers, called V.Ships “a maritime sourcing company” and noted its “portfolio of assets in the tanker, bulk carrier, leisure and other sectors of the shipping industry.”

   “We have been working with Close Brothers Private Equity for some six months,” said Tullio Biggi, president of V.Ships.

   Close Brothers Private Equity Fund IV “will acquire a significant minority stake in the V.Ships Group, while V.Ship’s senior management and a number of other staff will maintain their significant shareholding stake,” V.Ships said in a statement.

   The Vlasov Group and GE Capital, V.Ships’ previous backers, will retain “a minor shareholding stake,” V.Ships explained.