The shipping investment company formed by Kohlberg Kravis Roberts & Co. LP (NYSE: KKR) and Borealis Maritime has picked up nine shipping vessels.

Embarcadero Maritime, formed in 2013 to invest in distressed shipping assets, has so far acquired 27 vessels in nine transactions. The group's current fleet includes chemical tankers, feeder container vessels and small LPG vessels. KKR and Borealis have spent more than $100 million on vessel acquisitions, and are looking for more deals.

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