Capital provider to the maritime industry Fleetscape Capital Holdings Limited (Fleetscape) has collected USD 400 million in its first investment capital raise.
The capital was raised from funds managed by Oaktree Capital Management, Fleetscape said.
“With this capital raise, Fleetscape has become one of the leading alternative capital providers to the maritime industries with a global investment mandate,” the company commented.
Fleetscape is targeting investments across various segments of the maritime space, including shipping and offshore, by providing leases, loans and preferred equity.
As explained, the strong investor appetite shown in Fleetscape’s fund raising reflects the realisation that access to capital in the maritime industry has been restricted over the past several years.
“There has been a fundamental shift in the way that this capital-intensive industry funds itself, with alternative structured capital providers becoming an integral and substantial part of funding commitments,” Fleetscape further noted.
“We are well positioned to become the preferred source for solution-oriented alternative capital provision to shipping and offshore services companies worldwide,” C. Tobias Backer of Fleetscape said.
“We believe that a favourable investment climate exists for our alternative credit strategy, as the maritime sector continues to suffer from the retrenchment of its traditional capital sources. By combining Oaktree’s deep history of investing in the maritime space and our experience in structuring tailor-made transactions, we believe that Fleetscape will be a leading creative, flexible and innovative investment partner for the shipping and offshore industries for the long-term,” Guillaume Bayol, Senior Vice President at Oaktree, said.