Green Maritime Partners, a new private equity fund formed by shipping executive Peter Georgiopoulos, will focus on inevstments in the maritime and clean energy sectors in the lower middle market.

The new private equity firm will target businesses which focus on emissions reduction, energy efficiency and environmental remediation as well as alternative and renewable energy assets, Green Maritime said in a press release Tuesday.

Georgiopoulos will serve as chairman of Green Maritime. He is currently chairman and chief executive of General Maritime Corp., chairman of Genco Shipping & Trading, and chairman of Aegean marine Petroleum Network.

Co-founder Chris Teryazos will be responsible for operations.