Hanseatic Capital Management (HCM) has been launched by Germany’s Schulte Group, acting as the anchor investor. The initial investment focus of HCM is on smaller bulkers and boxships.
HCM’s management comprises experts from various industries and backgrounds, who combine a wealth of experience in both the shipping and investment sectors. In joining forces, HCM’s specialists cover all aspects ranging from deal sourcing to acquisition, shipmanagement and operations to vessel disposal.
HCM will concentrate on a commercially balanced employment strategy, which will include both shorter and period charters, depending on the vessel segments.
The first fund to be launched, Hanseatic Fund VCIC, aims to initially raise $120m. Its investment goal is on handysize and supramax bulk carriers and feeder-sized container vessels aged between four and 15 years. However, other types of tonnage or different sizes will be considered as well.
Hanseatic Fund VCIC, according to HCM, is aiming for a conservative use of leverage.
“Given the high operating leverage of shipping, the fund’s managers aspire to low breakeven points for vessels,” the new company said in a release today. HCM said it intends to distribute dividends to investors on a regular basis.
Hanseatic Fund VCIC will be regulated as an Alternative Investment Fund (AIF) by the Cyprus Securities and Exchange Commission (CySEC).
The units of the Hanseatic Fund VCIC also qualify as an eligible investment for the Scheme for Naturalization of Investors in Cyprus by exception, issued by the Republic of Cyprus. It therefore offers an investment opportunity in an asset class with great scope for diversification, which previously was not available under this scheme.