15-06-2018

Launch of new maritime fund manager Hanseatic Capital Management

Hanseatic Capital Management (HCM) has recently been launched by the Schulte Group, a leading German shipping company, acting as the anchor investor. The investment focus of HCM are maritime real assets, specifically merchant vessels.
HCM’s management comprises experts from various industries and backgrounds, who combine a wealth of experience in both the shipping and investment sectors. In joining forces, HCM’s specialists cover all aspects ranging from deal sourcing to acquisition, ship management and operations to vessel disposal. This ensures that all phases relating to the execution of the investment strategy are covered professionally.

The roots of HCM’s anchor investor, the Schulte Group, go back to 1883. The family-owned organisation owns 90 vessels of all types and manages 630 vessels through its ship manager Bernhard Schulte Shipmanagement (BSM), a leading maritime solutions provider with a presence in over 40 locations worldwide.

HCM will concentrate on a commercially balanced employment strategy, which will include both shorter and period charters, depending on the vessel segments.

The first fund to be launched, Hanseatic Fund VCIC Plc, aims to initially raise US$120m. Applying a strong focus on investor protection at all times, its investment goal is on handysize and supramax bulk carriers and feeder-sized container vessels aged between four and 15 years. However, other types of tonnage or different sizes will be considered as well.
Hanseatic Fund VCIC Plc aims for a conservative use of leverage. Given the high operating leverage of shipping, the Fund’s managers aspire to low breakeven points for vessels. It is their intention to distribute dividends to investors on a regular basis.
Hanseatic Fund VCIC Plc will be regulated as an Alternative Investment Fund (AIF) by the Cyprus Securities and Exchange Commission (CySEC) in line with the relevant EU directives. The Fund will be managed by HCM, an authorised AIF manager also regulated by CySEC. EFG Bank (Luxembourg), the international fund and corporate services provider Alter Domus act as the Fund’s independent depositary and administrator respectively.

The units of the Hanseatic Fund VCIC Plc also qualify as an eligible investment for the ‘Scheme for Naturalization of Investors in Cyprus by exception’, issued by the Republic of Cyprus. It therefore offers an investment opportunity in an asset class with great scope for diversification, which previously was not available under this scheme.

Source: Hanseatic Capital Management (HCM)

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