Dee4 Capital Partners ApS (“Dee4 Capital”) is pleased to announce that it has successfully completed the first close of Dee4 Capital Fund I K/S (the “Fund”) at USD 41 million. Final closing is expected before the year end with a hard cap of USD 100 million.
The Fund is managed by Carsten Mortensen, former CEO of both BW Group and D/S NORDEN, and Freddie Lee, a private equity professional with particular experience in shipping, energy, infrastructure and logistics. Further hires will be made over the course of 2019.
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 Capital expects to complete the acquisition of three second-hand product tankers in July 2019, to be financed in partnership with a leading Scandinavian bank.
Carsten Mortensen comments: “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.”
| Carsten Mortensen, Dee4 Capital | Pnefgra.Zbegrafra@Qrr4Pncvgny.pbz |
| Freddie Lee, Dee4 Capital | Serqqvr.Yrr@Qrr4Pncvgny.pbz |
| Hans Bøving, Point Communications | +45 40750333 - media requests |
Dee4 Capital is a Danish private equity firm investing in shipping, transport & logistics, energy, offshore and infrastructure.
Carsten Mortensen has spent 33 years in global shipping, most recently (2015-18) as CEO of Singapore-based BW Group, a leading global maritime group operating across various shipping segments, floating gas infrastructure and deep-water oil and gas production. Previously, he was CEO and President of Danish dry cargo and product tanker operator D/S NORDEN (2005-14). He started his career at A. P. Møller–Maersk in 1986. Carsten has held various directorships in the maritime industry, including listed companies in Denmark, Norway and the USA. He has also served as Chairman of Danish Shipping and Director of International Chamber of Shipping. Carsten holds a degree (HD-U) from Copenhagen Business School.
Freddie Lee has spent more than 18 years in the private equity investment industry, including as an Investment Committee member of Barclays Natural Resource Investments (2005-16), with whom he invested inter alia in shipping, logistics and energy. He co-founded Hafnia Tankers in 2010 and was an advisor to Hafnia until 2019, executing the merger with BW Tankers, and also co-founded CIG Logistics, a Texas-based energy infrastructure group. Freddie started his career at McKinsey & Co. in 1999 and was an Investment Manager with RBS Equity Finance (2001-5). He holds a degree in Politics, Philosophy and Economics from Oxford University.
