Denmark’s three major pension funds have come together to invest over USD 300 million in a new maritime fund.
PensionDanmark, Danica Pension and Lægernes Pension have teamed up with Navigare Capital Partners, who will act as the manager, to establish Maritime Investment Fund II.
It is the second of a series of maritime funds that will aim to build a diversified portfolio of ships, which will be leased to operators on contracts of varying length to ensure long, stable cash flows.
“Via the new fund, we are looking forward to continuing the great partnership between PensionDanmark and Navigare Capital Partners,” Torben Möger Pedersen, CEO of PensionDanmark, said.
“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.”
The fund will invite other investors to join, for the purpose of gaining further investment commitments, it was added.
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.
Navigare Capital Partners was established in 2017 for the purpose of providing institutional investors with the opportunity to invest in maritime assets.