Jens Martin Jensen, formerly John Fredriksen’s right hand man, is back in shipping, heading up private equity vehicle Pillarstone.
Jensen has been appointed partner at the KKR subsidiary, which aims to snap up more shipping loans in Europe in the coming months.
Jensen was previously ceo at Frontline Management. Other jobs in his career include a stint at Maersk plus time at Island Shipbrokers in Singapore.
Pillarstone launched last year in Italy. In April, it signed a deal with Italian line Premuda, taking on EUR300m of exposure from local banks.
In May, Pillarstone took on EUR1.2bn of problem loans from two Greek banks, Alpha Bank and Eurobank. It is expected it will now look at German banks as well as RBS.