Japanese trading house Mitsui & Co is investing an undisclosed sum in a shipping fund managed by Denmark’s Navigare Capital Partners.
The Tokyo-based company will, together with its subsidiary Mitsui & Co. Alternative Investments, put money into Navigare Capital’s third maritime investment fund, targeting $650m in capital and focusing on a diverse range of sustainable shipping assets with gross investments of around $1.5bn.
“This strategic move aligns with our commitment to meeting diverse international maritime needs while promoting stable and sustainable supply chains and reducing the carbon profile of the shipping industry,” Mitsui said.
Copenhagen-based Navigare, established in 2017 by Maersk chairman Robert Maersk Uggla and four well-known shipping executives, currently has three funds under management, and its third ‘Maritime Investment Fund’ has already been boosted by nearly $350m.
The company, which has accumulated operating assets worth $2bn, including containers, bulkers, tankers and gas carriers, also recently expanded its footprint in the offshore wind sector with up to three more commissioning service operation vessel newbuilds for Norwegian shipowning company Norwind Offshore.