Missouri Local Government Employees Retirement System (LAGERS) has approved a $75m (€67.5m) commitment to Sole Shipping’s latest fund.
The pension fund said Sole Shipping Special Opportunities Fund III will acquire vessels on sale-and-leaseback structures.
Individual deals will are expected to range from $10m to $200m in size.
It is currently unknown how much Sole Shipping intends to raise for the fund.
Missouri LAGERS issued a $75m commitment to the previous fund, which raised $200.6m in February last year.