- Germany’s oldest private bank has expanded its portfolio with two new closed-end multi-investor shipping funds.
- The funds are aimed at institutional investors and are launched in collaboration with Universal-Investment-Luxembourg as an alternative investment fund manager.
Germany’s private bank Berenberg has added two new closed-end multi-investor shipping funds to its portfolio, reads an official press release.
Funds to make diversified investments
As informed, the funds are targeting institutional investors. They have been launched by Germany’s oldest private bank alongside with Universal-Investment-Luxembourg as an alternative investment fund manager (AIFM).
In total, the AIFM now administers 13 funds of this type with a volume of around EUR 3 billion ($3.5 billion) for Berenberg.
Specifically, both funds enable investors to make broadly diversified investments in senior secured corporate or ship mortgage loans starting at mid-single-digit million amounts and are intended to continue the successful history of the already existing funds.
“The new funds complement a series of debt funds that have been launched exclusively for large institutional investors such as insurance companies and pension funds since 2016. Through the funds, we provided direct loans in the segments of transaction financings, ship mortgage loans as well as financings for renewable energy and infrastructure projects,” Lars Hagemann, Head of Structured Finance at Berenberg, said.
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