Mitsui : to Invest in Ship Investment Fund Managed by Navigare Capital Partners

Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President and CEO: Kenichi Hori) has decided to participate in Maritime Investment Fund III K/S ("MIF III"), a maritime investment fund established and operated by Navigare Capital Partners A/S ("Navigare", Head Office: Copenhagen, Denmark), through intermediate companies, together with Mitsui & Co. Alternative Investments Limited, a wholly owned subsidiary of Mitsui.

Navigare was established in 2017 by Robert Maersk Uggla, the Chairman of A.P. Moller Maersk A/S, one of the world's largest shipping, logistics, and infrastructure companies, and four well known executives in the shipping industry as partners to join the company. Navigare has since formed and operated two maritime investment funds. Accumulated operating assets have reached approximately USD 2 billion, and Navigare has built up an excellent investment track record in a diverse range of maritime assets through the effective utilization of its large global shipping network.

MIF III, its third fund, is expected to invest in maritime assets totaling about USD 1.5 billion (approximately JPY 230 billion). With a focus on environmentally friendly vessels for stable and sustainable maritime transportation, it plans to invest in offshore vessels, gas carriers, container vessels, car carriers, tankers, and bulk carriers.

In the international shipping industry, it is expected that tighter environmental regulations and the diversification and increasing complexity of vessel types will give rise to a greater demand for diversified shipping asset management business. While connecting its networks in the vessel/shipping industries with the domestic financial market in order to maximize profits of MIF III, Mitsui will promote maritime asset management business together with Navigare, meeting the diverse international maritime needs and contributing to building a foundation for securing stable and sustainable supply in society.

Company Profile

Official name	Navigare Capital Partners A/S
Head Office	Copenhagen Denmark
Established	2017
Founder	Robert Maersk Uggla Henrik Ramskov Stig D. Enslev John P. Boesen Lars B Christensen
Representative (Managing Partner)	Henrik Ramskov
Number of employees	Approximately 20
Business activities	Management and administration of maritime investment funds
Website	https://www.navigarecapital.com/

Fund name	Maritime Investment Fund III K/S
General partner	Navigare Capital Partners A/S
Fund period	10 years (from 2024 to 2034)
Fund size	Approximately USD 1.5 billion (approximately JPY 230 billion)
Investment targets	Offshore vessels (e.g., service operation vessels) Gas carriers (e.g., LPG, LNG, and ammonia carriers) Container vessels Car carriers Tanker Bulk carriers

Official name	Mitsui & Co. Alternative Investments Limited
Head Office	Chiyoda-ku, Tokyo
Shareholder	Mitsui & Co., Ltd. (100%)
Established	2001
Representative	Takateru Mitsui
Business activities	Promotion of alternative investment products, and fund management
Website	https://www.mitsui-ai.com/en/index.html