Cypriot shipowner and shipping fund manager, Pelagic Partners, has today announced the successful listing, and the first day of trading, of its new investment platform, Pelagic Credit, on the Oslo Stock Exchange.
Pelagic Credit represents a yield-orientated shipowning company focused on generating stable and predictable cash flows supported by long-term contracted employment of maritime assets, providing structured financing solutions to the maritime industry, supported by an initial capital raise of US$75M, anchored by Pelagic Partners.
Recent developments in the capital markets have reduced available options for parties looking to invest in a shipowning company that is backed by long-term employment contracts. Such companies protect investors from the broader volatility of shipping markets, whilst also generating consistent quarterly dividends.
Based on a strong deal flow pipeline, alongside the investment right of first refusal from affiliated companies, Pelagic Credit anticipates the successful deployment of the initial capital raise in the near term and expects to proceed with follow-on capital raises over the course of the year.
Pelagic Credit’s approach is founded on bareboat triple net leases, ensuring 100% revenue days, no operational cost exposure, and predictable cash flows, supported by an initial fleet of four vessels, all of which are chartered on five-year leases.
About Pelagic Partners
Pelagic Partners is an ownership-led maritime investment manager, combining shipowner insight with disciplined capital to deliver resilient performance for investors, charterers and partners across market cycles.
Founded by Dr. Niels Hartmann and Atef Abou Merhi, Pelagic Partners is registered and incorporated under the Laws of Cyprus with Registration Number HE 424510 and authorized by the Cyprus Securities & Exchange Commission (“CySEC”) to operate as an Alternative Investment Fund Manager with License Number AIFM43/56/2013. The founders are anchor investors and long-term shipowners who have access to and in-depth knowledge of the shipping markets, driven by their outreach, experience and network which have been developed over the past 30 years. This strategic positioning serves as the foundation for positioning Pelagic Partners as a frontrunner in maritime investment and shipowning space.
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