Sale of Dee4 Cedar and Dee4 Dogwood
Dee4 completed the sale of two vessels, Dee4 Cedar and Dee4 Dogwood, on 11th October and 30th September 2022 respectively. Net proceeds have been returned to limited partners, after repaying debt to DNB and Danske Bank. Approximately $64 million (over 90% of the drawn capital) has been returned from Dee4 Capital Fund I K/S (the “Fund”), in just over three years since inception.
Sale of Dee4 Fig
Dee4 agreed the sale of Dee4 Fig, which will complete during Q4 2022. Net proceeds will be returned to Fund limited partners, mostly before year end 2022. Based on the sale price and after repaying the debt on Dee4 Fig, we will return at least $25 million before year end with further proceeds thereafter as charter income is received and working capital returned.
Remaining vessels in Dee4 Capital Fund I K/S
Following these sales, the Fund will continue to own two vessels: Dee4 Elm and Dee4 Larch. All of the debt outstanding from DNB and Danske Bank on Dee4 Elm has been repaid, whilst limited debt remains in place for Dee4 Larch with Mizuho Marubeni Leasing Corporation.
Delivery of five newbuilding vessels during 2022
Clients of Dee4 took delivery of five newbuilding vessels from Hyundai Mipo Dockyard during 2022, adding to the two newbuildings delivered in August and September 2021. These were Dee4 Ilex, Dee4 Juniper, Dee4 Kastania, Dee4 Mahogany and Dee4 Nerium.
Additional information:
Carsten Mortensen, Dee4 Capital - Pnefgra.Zbegrafra@Qrr4Pncvgny.pbz
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.
