Mortensen eyes product tanker return

Jun 28 2019


Carsten Mortensen, formerly CEO of BW and NORDEN, has joined private equity player Freddie Lee to create Dee4 Capital Partners.

Danish-based Dee4 recently raised $41mill in capital, with another $60 mill likely to be raised by the end of this year.

“The Fund’s core strategy is to identify and execute transactions where Dee4 Capital sees short-term market dislocations coupled with long-term value, and hence a superior risk-reward balance. The short-term investment focus is on the product tanker market, given the attractive supply and demand dynamics,” Dee4 said in a statement..

The new company expects to complete the acquisition of three secondhand product tankers next month to be financed in partnership with an undisclosed Scandinavian bank.

Mortensen commented: “We are delighted to have first closed the fund with the backing, support and trust of 17 highly experienced professional investors, including family offices, foundations and maritime professionals. We will focus all our efforts on being excellent custodians of their capital.”

 



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