EnTrust Global’s Blue Ocean Strategy Completes Acquisition of Offshore Merchant Partners
April 29 2024 - 7:11AM
Business Wire
The Blue Ocean strategy managed by EnTrust Global, a leading
alternative asset management firm, today announced the completion
of its acquisition of Offshore Merchant Partners (“OMP”), an
alternative investment fund manager in the maritime and energy
industries, from HitecVision. The transaction closed on April 25,
2024.
Based in Oslo, Norway, OMP provides capital to maritime
transportation and energy service assets through bespoke structured
equity and credit instruments. OMP’s team will continue managing
the existing portfolio and will now have access to capital from
Blue Ocean for future transactions.
Svein Engh, Senior Managing Director and Portfolio Manager of
the Blue Ocean Funds, said: “We are excited to complete this
acquisition and significantly expand Blue Ocean’s presence in
Norway, an important energy and maritime hub, as a complement to
our other key offices in New York, Amsterdam and London. OMP’s
talented team joins Blue Ocean and its proven track record of
fundraising, sourcing, structuring, and managing maritime
investments through varied cycles.”
Ivar Hansson Myklebust, CEO of OMP Capital A/S, said:
“Across its ten-year history, OMP has grown its business and its
portfolio in volatile markets. With the change of ownership from
HitecVision to the Blue Ocean Funds, we will become part of a
larger group with deep expertise in the maritime landscape, and our
team of professionals looks forward to helping to further expand
the Blue Ocean strategy in the years to come.”
Christian Kronstad, Senior Partner at HitecVision, said:
“OMP has successfully completed a transformation into providing
bespoke, structured financing to the broader maritime and energy
infrastructure space. We are pleased with the sale to the Blue
Ocean Funds in a competitive process and believe they are the right
owner to continue OMP’s positive journey.”
Watson Farley & Williams LLP and Wiersholm acted as legal
advisors to EnTrust Global, and Evercore acted as financial
advisor.
BAHR acted as legal advisor to HitecVision, and Jefferies acted
as financial advisor.
About EnTrust Global
EnTrust Global is a leading global alternative asset management
firm. Co-founded in 1997 by Chairman and CEO Gregg S. Hymowitz, the
firm manages assets for over 500 institutional investors
representing 48 countries. EnTrust Global offers a diverse range of
alternative investment opportunities across strategies, including
private debt and real assets as well as opportunistic
co-investments and direct investments. EnTrust Global has 11
offices worldwide and is headquartered in New York and London.
About HitecVision
HitecVision is a Norwegian private equity firm and a leading
provider of institutional capital to Europe’s energy industry. For
almost four decades, the company has been investing in the energy
sector, starting out in the oil and gas industry before turning to
the current focus on decarbonisation and energy transition.
HitecVision has about EUR 8 billion in assets under management, and
is headquartered in Stavanger, with offices and investment
professionals in Oslo, London and Milan.
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Emma Tomas etomas@hstrategies.com