# Tufton, Shipping Hedge-Fund Firm, Buys 50% Stake in Allocean Charters Fleet



## shamrock (May 16, 2009)

> July 15 (Bloomberg) -- Tufton Oceanic Finance Group, manager of the world’s biggest shipping hedge fund, bought a 50 percent stake in a fleet owned by failed asset manager Allco Finance Group.
> 
> The 14 vessels include oil tankers, container ships and a commodity carrier and are valued at $250 million, Tufton said in an e-mail today, without disclosing the transaction price. Separately, the company expects to raise $300 million to $400 million for its planned Oceanic Distressed Fund.
> 
> ...cont../..


http://www.bloomberg.com/apps/news?pid=20601102&sid=awplV.GwtgIc


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