March 22 - PensionDanmark, one of Denmark's largest pension funds, is investing in a new maritime investment fund which will buy, lease and sell ships.
PensionDanmark's investment portfolio covers a range of assets including public and non-public markets, and by the end of 2016 the company had EUR26.4 billion (USD28.5 billion) under management.
"PensionDanmark has for a while had a close dialogue with a number of players in the shipping business regarding collaboration in the maritime field. This has resulted in the establishment of Maritime Investment Fund to which PensionDanmark has committed USD200 million," states ceo Torben Möger Pedersen, PensionDanmark.
The three investors (PensionDanmark, Danica and Navigare Capital Partners) have agreed to invest more than USD300 million in the new fund. The fund will eventually invite other institutional investors to participate, claims PensionDanmark.
The purpose of the fund is to build a diversified portfolio of maritime assets including dry bulk, container, offshore, product, crude oil and chemical tankers, to put on charter to operators. Depending on the market conditions the ships will be sold off after a certain period of ownership.
