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Investors - NOVEMBER 11, 2019

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Missouri pension commits $75m to Sole Shipping fund

by Kali Persall

The $8.1 billion Missouri Local Government Employees Retirement System (MOLAGERS) has committed $75 million to the newly launched Sole Shipping Special Opportunities Fund III, managed by Sole Shipping.

The pension fund could not be reached to comment on its investment efforts.

The fund launched in October, according to a document filed with the SEC. It had secured almost $90 million at the time of the filing.

MOLAGERS previously committed $75 million to the predecessor fund in the series, Sole Shipping Special Opportunities Fund II. According to Sole Shipping, the that fund is domiciled in Jersey, Channel Islands, and owns both ocean-going vessels and oil-service vessels via Cypriot and Maltese companies.

Fund II closed on $200.6 million in capital commitments in February 2018. The investor base was composed of European and U.S. pension funds, family offices, and individuals.

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