Hamburg-based E.R. Group, mostly known for its shipowning and management arm E.R. Schiffahrt, has launched a new vehicle to develop shipping investment opportunities for institutional investors.
The new outfit will be named Blue Star Group, reviving the 108-year-old Blue Star brand which disappeared after Blue Star became part of E.R. Group in 2012.
Blue Star Group will be lead by Christoph Geck-Schlich in the role of CEO, and will immediately focus on the shipping and logistics sector.
E.R. Group said it will contribute funds in the region of $50m for the development of new projects.
In additional to E.R. Schiffahrt and Blue Star Group, E.R. Group is a majority shareholder of Nordcapital and E.R. Offshore.