Carlyle and Tiger invest in ships

Carlyle Group has formed a joint venture with maritime investment firm Tiger Group to buy more than $5bn (£3.1bn) worth of ships with a group of other investors to tap growing shipping demand in the region. The joint venture will commence operations immediately and has committed to invest equity capital of $900m in the next five years. Private equity firm Carlyle said the venture would buy container, dry bulk, tanker vessels and other assets. Their partner Seaspan and the Washington Family will invest in container vessels purchased by the newly-formed firm, it said.