Hayfin’s maritime yield strategy to invest up to $1bn in shipping assets

Hayfin Capital Management has raised $400m (€371m) for a new shipping fund which with leverage has the potential to invest up to a $1bn in assets.

The alternative credit manager said the fundraising for its Maritime Yield strategy was backed by a diverse group of new and existing investors, including insurance companies, pension funds, family offices and infrastructure funds.

Maritime Yield will invest across industrial maritime sectors, with a focus on acquiring “top-specification assets that generate predictable and uncorrelated cash yields from blue-chip counterparties”.

Hayfin has a presence in the maritime industry, engaging in direct lending, alternative credit, leasing and ship ownership. The company also operates its ship management platform, Greenheart Shipping.

It has committed over $3bn across dry bulk, tankers, containers, liquefied petroleum gas, and liquefied natural sectors. 

Andreas Povlsen, head of maritime at Hayfin Capital Management, said: “This latest pocket of capital dedicated to the maritime industry is a powerful complement to our existing capabilities. Having acquired more than 80 vessels and concluded more than $1bn of charter revenues, we continue to execute on our strategy of generating strong risk-weighted returns from a quality hard-asset base.

“Our strategy in maritime focuses on aligning patient institutional capital with attractive fuel-efficient assets and predictable as well as diversified cash yields generated from investment-grade counterparties.”

Nino Mowinckel, managing director of maritime funds at Hayfin Capital Management, said: “Shipping markets are undergoing a period of profound structural change with rising barriers to entry, constrained supply-side dynamics, expanding tonne miles, and tightening regulatory regimes that will increase asset utilisation rates over time.

“We believe that the industry continues to benefit from adopting a more institutional, value-add infrastructure model, transitioning away from short-termism and sub-scale platforms.”

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