Global Infrastructure Partners (GIP) and Crowley Holdings have closed a $300 million preferred equity investment in Crowley Preferred Funding.
The proceeds of the sale will fund key strategic capital and growth projects, including a greenfield jet fuel storage project in Australia and a new LNG bunker barge.
GIP is making the investment through its Global Infrastructure Partners Capital Solutions Fund II (GIP CAPS II), part of GIP’s credit platform (GIP Credit). GIP said this represents the fifth commitment made through the fund, which supports strategic investments for capital projects and broader growth mechanisms of corporations and provides necessary resources for companies to expand and enhance their portfolio of services.
“Crowley’s maritime transport assets provide a critical backbone in the infrastructure of global trade,” said Denny Sreckovic, partner at GIP Credit. “Further, the company is well positioned to capitalize on the expansion of off
