Aristotle Capital Boston is the latest shareholder to reveal a larger stake in product tanker owner Ardmore Shipping.
Aristotle has reported a stake of 2,058,374 shares in the shipowner, giving it a 6.05% slice of the Cork-based company.
The Massachusetts investor has been a stakeholder in Ardmore for some time, however, this is the first time its holding has jumped above the 5% threshold.
Its increased interest in Adrdmore, revealed in an SEC filing, is worth $14.8m at the close in New York on Wednesday.
Aristotle, which has $18bn under management globally, is the latest investor to show a larger share of Ardmore after the selldown of its initial private equity backed Greenbriar.
As TradeWinds reported in the past few days, Boston Partners has increased its investment in the company.
Ardmore has a fleet of 28 product and chemical tankers on the water.
Analysts at Clarksons Platou Securities this week forecast the company will post a loss of $5m in 2018, before swinging to a profit of $44m in 2019 and $66m in 2020.
