'DVB Invest Opportunity Fund', an up to USD 250 million fund, focused on counter-cyclical and opportunity driven investments in the shipping and offshore industry will be launched.
DVB Bank, the specialist in transport finance, today announces the formation of the Shipping and Intermodal Investment Management ("SIIM") team, in which DVB's fund manager teams for the shipping, intermodal and rail fund activities have been merged. This allows for even more flexibility in tailor made solutions and for greater efficiency in the execution of transactions. A separate team within DVB Investment Management acts as the fund manager for the Deucalion Aviation Funds. In the current economic environment, where some transport assets in the maritime industry are trading below intrinsic value, the SIIM team is launching the 'DVB Invest Opportunity Fund', an up to USD 250 million fund, focused on counter-cyclical and opportunity driven investments in the shipping and offshore industry.
Mr. Eric Snellen, Managing Director and Head of SIIM said: "I am confident that our new 'DVB Invest Opportunity Fund' will attract a lot of interest from potential investors. In the current financial market crisis I also see other investment opportunities, such as high-yielding bridge finance, discounted debt and public securities, trading well below their intrinsic values. We are also in the process of setting up a new intermodal fund".
Mr. Wolfgang Driese, CEO and Chairman of the Board of Managing Directors, added: "We want to further expand our investment management business, which has been successful from the very start. DVB is the ideal partner for discerning investors looking for extensive expertise and experience on a global scale, and has a proven track record. This is particularly important in the current downturn which nearly all transport markets are facing. Selecting the right assets for investment requires extensive market knowledge, and DVB's core expertise in the global Transport Finance business gives it a unique perspective and competitive advantage. Likewise, as an integral element of DVB's business model, the investment management franchise allows the Bank to offer its clients an equity finance alternative for their investment projects, perfectly complementing DVB's service offer comprising lending, arranging of complex financing solutions and financial advisory services."
DVB Investment Management - a core business unit of DVB - arranges equity for transport clients and provides fund management services to investors in the transport sector, operating close to the customer with dedicated teams.
Shipping investment funds have been offered since 1999 by DVB (until April 2008 under the name 'NFC Shipping Funds'). To date, the aggregate investment volume undertaken by the shipping funds stands at appr. USD 3 billion involving over 200 ships. The first intermodal fund was set up in 2006 and to date the investment volume is over USD 800 million in maritime containers and other intermodal assets. DVB's first rail fund was set up in 2007 and the investment volume is over EUR 200 million since inception.