Easterly Clear Ocean (ECO), the maritime investment platform backed by Easterly Asset Management, has completed the sale of all seven chemical tankers from its inaugural fund, marking the exit of Tranche I with an estimated net internal rate of return of 63% and a net multiple of 4.25x. The firm is now pivoting to dry bulk carriers with its latest fund, ECO Fleet Holdings V, which has already deployed into five vessels.
The remaining four vessels from "ECO Tranche I" were sold during the second quarter of 2026 and are scheduled for delivery to their new owners by the third quarter of this year, according to the company. The fund had already sold three vessels from the portfolio in 2024. The final four vessels were sold at an estimated 52% premium to their original purchase price. ECO expects Tranche I to deliver an estimated net internal rate of return of 63% and a net multiple of 4.25x, subject to final audit and verification.
Fund Performance and Strategy
| Metric | Value |
|---|---|
| Fund | ECO Tranche I |
| Launch | August 2021 |
| Close | March 2022 |
| Vessels | 7 chemical tankers |
| Sales: three vessels in 2024, four vessels in Q2 2026 | |
| Estimated premium on remaining four | 52% over purchase price |
| Estimated net IRR | 63% |
| Estimated net multiple | 4.25x |
Darrell Crate, founder and managing principal of Easterly Asset Management, said: "The results achieved in Tranche I reflect our unique, rigorous approach to sourcing, operating, and opportunistically exiting assets at the right time."
New Fund: ECO Fleet Holdings V
Since launch, ECO has deployed nearly $400 million across four investment vehicles focused on maritime assets. The company is now raising capital for its latest fund, ECO Fleet Holdings V, launched in August 2025. Capital has already been deployed into five vessels comprising three dry bulk carriers and two stainless steel chemical tankers, marking the platform’s first move into the dry bulk sector. Chief operating officer Jake Scott said the strategy remains centred on disciplined vessel acquisitions, active operational management and opportunistic exits aimed at generating both income and capital appreciation.
Watch List
- Delivery of the four sold vessels to new owners by Q3 2026.
- Further deployment of capital from ECO Fleet Holdings V into additional dry bulk and chemical tanker vessels.
- Potential future exits from the platform's existing fleet as market conditions evolve.
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