Morgan Stanley and Crowley form offshore tie-up

Morgan Stanley Investment Management and US logistics firm Crowley have formed a joint venture to develop port facilities for the US offshore wind sector.

The joint venture, Crowley Wind Services Holdings, is set to combined Crowley's expertise in maritime logistics with Morgan Stanley's financial background. Its focus will be on repurposing and operating existing US port facilities for offshore wind, and leasing them under long-term contracts to offshore wind developers.

Crowley will operate the joint venture and investment funds managed by Morgan Stanley will hold a majority stake.

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