Danish maritime investment company J. Lauritzen has picked up a minority stake in fellow private equity firm Dee4 Capital Partners.
The Kristian Mørch-led company has taken a 10.1% ownership in the Carsten Mortensen-led outfit, following the first closing of its second fund Dee4 Capital Fund II with commitments of $92m.
A total of 18 external investors signed up for the fund, including S41, joining J. Lauritzen as another 10.1% shareholder.
The move follows the sale of Marubeni’s 25% stake at the end of 2023 and results in the executive management team owning a total of 79.8% of Dee4.
Dee4 Capital was set up by Carsten Mortensen and Freddie Lee in 2019 and has since been mostly focused on medium range product tankers.
J. Lauritzen has been involved with Dee4 since the outset when its first fund closed in December 2019 at $72m.
“We are happy to announce our continued partnership with Dee4 Capital as investors in Fund II, building on our successful involvement in Fund I,” the company said.
Dee4 noted that any subsequent closings of Fund II would take place before March 2025.
