Funds managed by private equity group Apollo Global Management have agreed to acquire maritime LNG carrier (LNGC) infrastructure platform Hav Energy LNG Holding from European energy industry investor HitecVision.
Financial terms were not disclosed.
Established by HitecVision in 2022, Hav Energy invests in LNGC infrastructure projects in partnership with Knutsen LNG, a large owner-operator of LNGCs globally, and jointly owns a portfolio of 10 newbuild LNGCs that are 100 per cent contracted on long-term charters with investment grade counterparties.
The portfolio includes two modern operating vessels and eight under construction at the HD Hyundai Heavy Industries in South Korea. The eight LNGCs are due to be delivered in 2025 and 2026.
"Hav Energy has quickly scaled into a top platform facilitating the global transport of LNG, which we view as a bridge fuel capable of reducing emissions for rapidly growing power demand," said Apollo Partner Joseph Romeo.
"We are excited to work with the Hav Energy team and their aligned, well-regarded partners in Knutsen to accelerate growth of the platform, which we believe can serve as a vital infrastructure link supporting enhanced energy resiliency for customers around the world."
The financial terms of the transaction were not disclosed.