EnTrust Global’s Blue Ocean Strategy Completes Acquisition of Offshore Merchant Partners

NEW YORK & OSLO, Norway--(BUSINESS WIRE)--The Blue Ocean strategy managed by EnTrust Global, a leading alternative asset management firm, today announced the completion of its acquisition of Offshore Merchant Partners (“OMP”), an alternative investment fund manager in the maritime and energy industries, from HitecVision. The transaction closed on April 25, 2024.

Based in Oslo, Norway, OMP provides capital to maritime transportation and energy service assets through bespoke structured equity and credit instruments. OMP’s team will continue managing the existing portfolio and will now have access to capital from Blue Ocean for future transactions.

Svein Engh, Senior Managing Director and Portfolio Manager of the Blue Ocean Funds, said: “We are excited to complete this acquisition and significantly expand Blue Ocean’s presence in Norway, an important energy and maritime hub, as a complement to our other key offices in New York, Amsterdam and London. OMP’s talented team joins Blue Ocean and its proven track record of fundraising, sourcing, structuring, and managing maritime investments through varied cycles.”

Ivar Hansson Myklebust, CEO of OMP Capital A/S, said: “Across its ten-year history, OMP has grown its business and its portfolio in volatile markets. With the change of ownership from HitecVision to the Blue Ocean Funds, we will become part of a larger group with deep expertise in the maritime landscape, and our team of professionals looks forward to helping to further expand the Blue Ocean strategy in the years to come.”

Christian Kronstad, Senior Partner at HitecVision, said: “OMP has successfully completed a transformation into providing bespoke, structured financing to the broader maritime and energy infrastructure space. We are pleased with the sale to the Blue Ocean Funds in a competitive process and believe they are the right owner to continue OMP’s positive journey.”

Watson Farley & Williams LLP and Wiersholm acted as legal advisors to EnTrust Global, and Evercore acted as financial advisor.

BAHR acted as legal advisor to HitecVision, and Jefferies acted as financial advisor.

About EnTrust Global

EnTrust Global is a leading global alternative asset management firm. Co-founded in 1997 by Chairman and CEO Gregg S. Hymowitz, the firm manages assets for over 500 institutional investors representing 48 countries. 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.

About HitecVision

HitecVision is a Norwegian private equity firm and a leading provider of institutional capital to Europe’s energy industry. For almost four decades, the company has been investing in the energy sector, starting out in the oil and gas industry before turning to the current focus on decarbonisation and energy transition. HitecVision has about EUR 8 billion in assets under management, and is headquartered in Stavanger, with offices and investment professionals in Oslo, London and Milan.