KKR and Borealis Maritime Joint Venture Acquires Large Fleet from Commerzbank
July 23, 2015
Hanseatic Ship Asset Management (HSAM) was established in
Embarcadero Maritime III, a joint venture formed by KKR and Borealis
Maritime to invest in distressed shipping assets, will acquire HSAM with
all its assets. Following this purchase, investment vehicles established
by KKR and Borealis will jointly operate a fleet of over 50 vessels in
the container, chemical, product and LPG sectors. To date, KKR and
Borealis have deployed over
“We are pleased to acquire this high-quality fleet from Commerzbank and
will continue to explore additional growth opportunities in the shipping
sector,” said
KKR is funding the acquisition through certain of its managed funds and accounts, including its Special Situations Fund II, which, among other things, matches long-term capital to support the cyclical nature of shipping assets.
ABOUT KKR
KKR is a leading global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation at the asset level. KKR invests its own capital alongside its partners’ capital and brings opportunities to others through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. L.P. (NYSE:KKR), please visit KKR’s website at www.kkr.com.
ABOUT BOREALIS
Borealis Maritime is a privately owned and independent
View source version on businesswire.com: http://www.businesswire.com/news/home/20150722006571/en/
Borealis Maritime
+44
(0) 7850 161 590
Christoph.toepfer@borealismaritime.com
or
Finsbury
victor.mallet@finsbury.com
Source:
Back to Press Releases
Media Contacts
Americas
Miles Radcliffe-Trenner
Telephone: +1 (212) 750-8300
Email: media@kkr.com
Investor Relations
Craig Larson
Telephone: +1 (877) 610-4910
Outside US: +1 (212) 230-9410
Facsimile: +1 (212) 750-0003
Email: Investor-Relations@kkr.com