Completion of sale of Dee4 Fig and Dee4 Elm
Dee4 completed the sale of two vessels since the last trading update in November 2022: Dee4 Fig (in December 2022) and Dee4 Elm (in June 2023).
Net proceeds have been returned to limited partners.
Dee4 Capital Fund I K/S (“Fund I”) returns
Fund I first closed in June 2019 with $72 million of commitments from a variety of Danish and international investors, many of whom are closely connected with the shipping industry.
Six out of seven assets have been sold from Fund I and the net Distribution to Paid-In Capital (“DPI”) for a first close investor is approximately 1.6x within four years from first closing.
The 2022 annual report for Fund I shows an accounting profit of over $40 million for the year and Fund I returns to investors net of all costs are currently estimated at an IRR of 25%.
Remaining vessel in Fund I
Following these sales, the Fund continues to own one vessel: Dee4 Larch. A limited amount of debt remains outstanding against Dee4 Larch with Mizuho Marubeni Leasing Corporation.
Modern eco vessels on-the-water
Dee4 continues to manage seven modern eco vessels – ClearOcean Ginkgo, ClearOcean Hickory, Dee4 Ilex, Dee4 Juniper, Dee4 Kastania, Dee4 Mahogany and Dee4 Nerium. These vessels are on charters of varying lengths to various clients including Clearlake, Cargill, Stena and WECO Shipping.
Dee4 Capital Fund II
The management team is focused on raising and then deploying a second fund. Given the good performance of Fund I, Dee4 is honoured to have good support from existing investors and is in the process of speaking to further institutional investors about the proposition.
Additional information:
Freddie Lee, Dee4 Capital - Serqqvr.Yrr@Qrr4Pncvgny.pbz
About Dee4 Capital
Dee4 Capital is a Danish private equity firm investing in shipping, transport & logistics, energy, offshore and infrastructure founded by Carsten Mortensen and Freddie Lee in 2019. The current fleet list is available at www.dee4capital.com/portfolio.
