The Blue Ocean strategy managed by alternative investment firm EnTrust Global (EnTrust) has completed the acquisition of Maas Capital Shipping from ABN AMRO.
Since its inception in the late 1990s, the Maas Capital platform has deployed close to USD1.0 billion in equity maritime investments and is currently one of the world’s leading institutional shipping equity investors.
The acquired portfolio includes a diversified portfolio of 15 equity joint venture investments, consisting of a fleet of 76 high-quality vessels within the product/chemical tanker, dry bulk, LPG, container, and offshore services segments.
In addition, the portfolio includes an equity stake in a growing intermodal business which leases out container boxes. The acquisition is the latest expansion of EnTrust’s maritime finance strategy, Blue Ocean, which is part of the firm’s broader maritime-focused Blue Ocean Group.
As part of the transaction, EnTrust has engaged six members of the Maas Capital team led by Mark Ras, who will continue to be involved with the management of the portfolio and to source additional growth opportunities for EnTrust.
“The completion of the Maas Capital portfolio acquisition is another step in our expansion into the equity investment space, and something we view as a significant asset for the Blue Ocean strategy,” says Svein Engh, Senior Managing Director of EnTrust Global and Portfolio Manager of Blue Ocean Group. “We look forward to partnering with the Maas Capital team and its extensive experience and to continue the momentum generated by the portfolio in recent years, all at a time when fundamentals continue to stabilise in the global maritime industry.”
“This acquisition allows the Blue Ocean strategy to continue the growth of its maritime investment portfolio as a leading alternative capital provider to the shipping sector. We are excited to team up with shipping companies that we view as best-in-class partners and look forward to establishing new partnerships with other leaders in the space,” said Omer Donnerstein, Managing Director of EnTrust Global and Investment Analyst for Blue Ocean.
“We are extremely pleased to partner with EnTrust and look forward to continuing to manage and expand the business. This marks a new and exciting chapter in the development of Maas Capital as we expand existing investments, bring on new partners and venture into new markets. A special thanks also goes out to our existing partners, team and stakeholders for their patience and support in this process,” says Mark Ras, Head of Maas Capital.
Since its inception the Blue Ocean strategy has raised USD2.6 billion.
EnTrust was represented by Watson Farley & Williams (London) and NautaDutilh (Amsterdam).