PensionDanmark, Danica Pension, Lægernes Pension and Navigare Capital Partners have joined forces to establish Maritime Investment Fund II. It is the second of a series of maritime funds, which, using the founders’ capital, aims to build a diversified portfolio of ships, which will be leased to operators on contracts of varying length to ensure long, stable cash flows.
The fund will be managed by Navigare Capital Partners, a group of experienced shipping professionals with extensive experience in the entire transport value chain, including investment, funding, operations and exits.
“Via the new fund, we are looking forward to continuing the great partnership between PensionDanmark and Navigare Capital Partners. The investments will be managed by a team with strong competencies and vast experience from the sector. Based on our positive experience from the first fund, we are also expecting attractive returns from the new fund over the relatively long horizon during which we invest in the shipping sector,” says Torben Möger Pedersen, CEO of PensionDanmark
Together with Navigare Capital Partners, the three chief investors, PensionDanmark, Danica Pension and Lægernes Pension have pledged to invest more than USD 300 million in the new fund in the context of first close. The fund will invite other investors to join, for the purpose of gaining further investment commitments.
Navigare Capital Partners was established in 2017 for the purpose of providing institutional investors with the opportunity to invest in attractive maritime assets. The first fund of USD 450 million was successfully invested in vessels chartered on long-term contracts and with a total value of approximately USD 1 billion.
Facts About the Investors
Navigare Capital Partners A/S is owned by a number of partners who have extensive experience in shipping. Together with investors, primarily institutional investors, the partners will make capital available. The structure and ownership follow the market practice for such investments in both Denmark and abroad.
PensionDanmark A/S manages collective-agreement and company-agreed labour market pensions, health plans and educational funds for 738,000 members. The balance is DKK 250 billion.
Danica Pension has approximately 1 million clients in Denmark and Norway and is one of the largest pension companies in the Nordic region. The total pension assets are approximately DKK 450 billion with approximately DKK 35 billion in annual payments.
Lægernes Pension is a member-owned pension fund for nine out of ten doctors in Denmark. Lægernes Pension also runs Lægernes Bank and the investment association, Lægernes Invest, managing a total of DKK 140 billion.