Hayfin Capital Management has generated around $400m for its shipping fund, bolstering its ability to acquire assets worth up to $1bn when combined with conservative loan financing.
The UK alternative investment platform said it plans to invest across each of the industrial maritime sectors, with a focus on acquiring “top-specification assets that generate predictable and uncorrelated cash yields from blue-chip counterparties”.
Hayfin, with around $32bn assets under management, maintains a discrete profile but has a sizeable maritime industry footprint with continuous investment activity across direct lending, alternative credit, leasing, and ship ownership, complete with an in-house ship management platform, Greenheart Shipping.
The latest fundraising has been backed by a diverse group of both new and existing investors including leading insurance companies, pension funds, family offices, and infrastructure funds. The move represents a further extension of its track record in the sector, having invested more than $3bn in the dry bulk, tankers, containers, LPG, and LNG segments.
Andreas Povlsen (pictured), head of maritime and Hayfin, commented: “This latest pocket of capital dedicated to the maritime industry is a powerful complement to our existing capabilities. Having acquired more than 80 vessels and concluded more than $1bn of charter revenues, we continue to execute on our strategy of generating strong risk-weighted returns from a quality hard-asset base. Our strategy in maritime focuses on aligning patient institutional capital with attractive fuel-efficient assets and predictable as well as diversified cash yields generated from investment-grade counterparties.”
Nino Mowinckel, managing director of maritime funds at Hayfin, added: “Shipping markets are undergoing a period of profound structural change with rising barriers to entry, constrained supply-side dynamics, expanding tonne miles, and tightening regulatory regimes that will increase asset utilisation rates over time. We believe that the industry continues to benefit from adopting a more institutional, value-add infrastructure model, transitioning away from short-termism and sub-scale platforms.”
