Mitsui & Co. Ltd.
Mitsui & Co. Ltd.
05/20/2024 | Press release | Distributed by Public on 05/19/2024 19:11
Mitsui to Invest in Ship Investment Fund Managed by Navigare Capital Partners
Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President and CEO: Kenichi Hori) has decided to participate in Maritime Investment Fund III K/S ("MIF III"), a maritime investment fund established and operated by Navigare Capital Partners A/S ("Navigare", Head Office: Copenhagen, Denmark), through intermediate companies, together with Mitsui & Co. Alternative Investments Limited, a wholly owned subsidiary of Mitsui.
Navigare was established in 2017 by Robert Maersk Uggla, the Chairman of A.P. Moller Maersk A/S, one of the world's largest shipping, logistics, and infrastructure companies, and four well known executives in the shipping industry as partners to join the company. Navigare has since formed and operated two maritime investment funds. Accumulated operating assets have reached approximately USD 2 billion, and Navigare has built up an excellent investment track record in a diverse range of maritime assets through the effective utilization of its large global shipping network.
MIF III, its third fund, is expected to invest in maritime assets totaling about USD 1.5 billion (approximately JPY 230 billion). With a focus on environmentally friendly vessels for stable and sustainable maritime transportation, it plans to invest in offshore vessels, gas carriers, container vessels, car carriers, tankers, and bulk carriers.
In the international shipping industry, it is expected that tighter environmental regulations and the diversification and increasing complexity of vessel types will give rise to a greater demand for diversified shipping asset management business. While connecting its networks in the vessel/shipping industries with the domestic financial market in order to maximize profits of MIF III, Mitsui will promote maritime asset management business together with Navigare, meeting the diverse international maritime needs and contributing to building a foundation for securing stable and sustainable supply in society.
Company Profile
| Official name | Navigare Capital Partners A/S |
|---|---|
| Head Office | Copenhagen Denmark |
| Established | 2017 |
| Founder |
Robert Maersk Uggla Henrik Ramskov Stig D. Enslev John P. Boesen Lars B Christensen |
| Representative (Managing Partner) | Henrik Ramskov |
| Number of employees | Approximately 20 |
| Business activities | Management and administration of maritime investment funds |
| Website |
| Fund name | Maritime Investment Fund III K/S |
|---|---|
| General partner | Navigare Capital Partners A/S |
| Fund period | 10 years (from 2024 to 2034) |
| Fund size | Approximately USD 1.5 billion (approximately JPY 230 billion) |
| Investment targets |
Offshore vessels (e.g., service operation vessels) Gas carriers (e.g., LPG, LNG, and ammonia carriers) Container vessels Car carriers Tanker Bulk carriers |
| Official name | Mitsui & Co. Alternative Investments Limited |
|---|---|
| Head Office | Chiyoda-ku, Tokyo |
| Shareholder | Mitsui & Co., Ltd. (100%) |
| Established | 2001 |
| Representative | Takateru Mitsui |
| Business activities | Promotion of alternative investment products, and fund management |
| Website |