23-03-2017

Establishment of new maritime investment fund of over $300 million

Shipping

PensionDanmark, Danica and Navigare Capital Partners have established the Maritime Investment Fund I, which, based on capital from the founders, shall build a diversified portfolio of maritime assets including dry bulk, container, offshore, product, crude oil and chemical tankers, to put on charter to operators.

The fund will be managed by Navigare Capital Partners, which consists of partners with broad based shipping experience. ”The new investment fund will give institutional investors a possibility to invest in a broad portfolio of vessels. This is new and very positive for shipping in Denmark, “Blue Denmark”, says Henrik Ramskov, Managing Partner in Navigare Capital Partners The three investors (PensionDanmark, Danica and Navigare Capital Partners) have agreed to invest more than 300 mio. USD in the new fund. The fund will eventually invite other institutional investors to participate.

“We are looking forward to a long-term partnership between PensionDanmark and Navigare Capital Partners on investment in vessels. The investments will be handled by a team with strong competences and experience, and we expect an attractive return during our relatively long term investments within shipping”, says Managing Director Torben Möger Pedersen, PensionDanmark “We expect that the investment in the fund will give our customers a reasonable return. We are investing in a strong and experienced team with a broad set of competences, and this together with the attractive price on new as well as secondhand vessels, is a key reason for us to see this as a good investment, says Investment director Danica Pension Jesper Langmack.

The three investors:
Navigare Capital Partners
Navigare Capital is owned by a number of partners with substantial shipping experience. The partners will be providing capital along with the institutional investors.

PensionDanmark A/S
PensionDanmark A/S manages pension and insurance schemes, health care and educational funds on behalf of 695,000 members. At the end of 2016 PensionDanmark had EUR 26.4bn under management.

Danica Pension
With more than 600,000 customers, we are one of the largest pension providers in Denmark. We have specialised in pension schemes, life insurance and health insurance, and our total pension funds amount to DKK 327 billion, with annual contributions upwards of DKK 27 billion.

Source: PensionDanmark

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