From The Am Law Daily

Private-equity giant The Carlyle Group announced on Monday that it’s creating a joint venture to buy more than $5 billion in shipping vessels and assets.

Carlyle is forming the venture with Hong Kong-based Tiger Group Investments and shipping company Seaspan Corp. along with a pair of Seaspan executives and shareholder, the Washington family. The new company will focus on Chinese shipbuilders, lenders and state-owned companies.