YieldStreet Breaks New Barriers with Marine Finance/Shipping Based Investments for Retail Investors
NEW YORK--(BUSINESS WIRE)--May 14, 2018--YieldStreet, the alternative investment platform striving to change the way wealth is created, continues to challenge the status quo by launching Marine Finance as a new asset class, believed to be a first-of-a-kind investment product for retail investors.
George Cambanis, the founding partner and former CEO of Deloitte Greece is joining YieldStreet as the Managing Director of Marine Finance. With this new asset class, YieldStreet investors will be able to participate in three main types of Marine transactions: Vessel Acquisition, Vessel Construction and Vessel Deconstruction.
The first Marine Finance offering has had a very strong investor response. Over $10M has already been committed across hundreds of investors. In fact, this offering marks the highest volume of total investors in a single offering in YieldStreet’s history, further nodding to the company’s mission of ‘Prosperity for All’.
“Technology is the greatest equalizer and the power of individuals making their own investment decisions has been underestimated for too long, as demonstrated by our engaged investor base. YieldStreet is committed to its mission to enable individuals to build wealth via a truly diversified portfolio of alternative assets,” said Michael Weisz, President and Founder of YieldStreet. “By marrying technology and data together with sophisticated structuring and George’s experience, we are able to offer flexible capital to originators in the Marine industry, which we expect will be up to $250M of investments in this asset class by the end of 2018.”
Marine Finance offerings are short in duration (typically between 1-3 years) and backed by an asset – the ship, cash flows from ship leases or charters, and scrap value of the ship. Like most other YieldStreet investment opportunities across litigation finance, real estate and more, Marine Finance offerings also have target yields of 8-20%.
“I could not have imagined a better way to put my 40 years of Marine industry experience behind a mission like YieldStreet,” said Cambanis. “To provide investors access to highly structured opportunities in this global industry for the first time is game-changing.”
This news comes on the heels of the recent announcement that YieldStreet experienced strong company growth to close out Q1 2018. This news included a new milestone of over $317M invested by retail investors, and the release of a new feature, Account Balances, which allows investors to hold funds directly in their YieldStreet accounts.
YieldStreet is changing the way wealth is created, providing access to asset-based investments historically unavailable to most investors. YieldStreet allows you to participate in opportunities with low stock market correlation and target yields of 8-20%, across litigation finance, real estate and other alternative asset classes. We believe our technology platform creates a unique experience for investors at every level and provides valuable diversification and strength to most portfolios. Get started at www.yieldstreet.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180514005650/en/
CONTACT: For YieldStreet
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: TECHNOLOGY SOFTWARE PROFESSIONAL SERVICES BANKING FINANCE
Copyright Business Wire 2018.
PUB: 05/14/2018 09:00 AM/DISC: 05/14/2018 09:01 AM