EnTrust Global acquires maritime and energy fund manager Offshore Merchant Partners
EnTrust Global, a leading alternative asset management firm, has agreed to acquire Offshore Merchant Partners (OMP), a fund manager in the maritime and energy industries, to expand its Blue Ocean strategy.
The Sale and Purchase Agreement has been signed and the transaction is expected to close in the first quarter of 2024, subject to customary closing conditions and regulatory approvals.
Offshore Merchant Partners, based in Oslo, Norway, provides capital to maritime transportation and energy service assets through bespoke structured equity and credit instruments. Since inception in 2013, OMP has successfully deployed approximately USD 700 million across credit, leasing, and structured equity instruments.
The acquisition will strengthen EnTrust Global’s Blue Ocean strategy, which focuses on investing in the maritime and energy sectors. Blue Ocean has raised more than $4 billion since its launch in 2018 and has shown strong performance throughout. The strategy’s team now consists of 17 investment professionals, soon to increase with the OMP transaction, an important milestone for EnTrust Global’s expansion.
Svein Engh, Senior Managing Director and Portfolio Manager of the Blue Ocean Funds, said: “Following the successful acquisition of Maas Capital in 2021, the pending Offshore Merchant Partners acquisition is another outcome of the Blue Ocean team’s ability to execute sizeable and complex transactions. These acquisitions and strong organic growth have resulted in the deployment of around $4 billion since the inception of EnTrust Global’s Blue Ocean Strategy.”
Omer Donnerstein, Managing Director and Co-Portfolio Manager of the Blue Ocean Funds, said: “The agreed transaction with OMP involves the acquisition of a high-quality structured portfolio and skilled team. This will enable the Blue Ocean team to expand its presence in the maritime and energy industry, while tapping into key talent in Oslo, Norway.”
Gregg S. Hymowitz, Chairman and CEO of EnTrust Global, said: “The overall success and growth of Blue Ocean is a direct consequence of the clear focus on the maritime industry and the strong team and culture that has been cultivated within EnTrust Global over the past 8 years.”
EnTrust Global is a leading alternative asset management firm with approximately $17.2 billion in total assets. Co-founded in 1997 by Chairman and CEO Gregg S. Hymowitz, the firm manages assets for over 500 institutional investors representing 48 countries and has approximately $11 billion in customized strategic partnerships. EnTrust Global offers a diverse range of alternative investment opportunities across strategies, including private debt and real assets as well as opportunistic co-investments and direct investments. EnTrust Global has 11 offices worldwide and is headquartered in New York and London.
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