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

May 20, 2024

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

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
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

LNG CarrierLNG Carrier
Company logo of Navigare Capital PartnersCompany logo of Navigare Capital Partners

Mitsui’s Materiality

“Build brighter futures, everywhere” as our corporate mission, and to gain the trust and expectations of our stakeholders to realize a better tomorrow for earth and for people around the world, we have identified five material issues (“Materiality”) for Mitsui’s sustainable growth. We anticipate this particular project/ business to contribute especially to the realization of “Secure sustainable supply of essential products” and “Create an eco-friendly society”

  • Secure sustainable supply of essential products

    Secure sustainable supply of essential products

  • Enhance quality of life

    Enhance quality of life

  • Create an eco-friendly society

    Create an eco-friendly society

  • Develop talent leading to value creation

    Develop talent leading to value creation

  • Build an organization with integrity

    Build an organization with integrity