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U.S. private equity firms hunting for German acquisitions

American private equity firms are now buying German ships and lending money to German shipping companies, writes Bloomberg. The decrease in liquidity from German private investors and the German banks’ exit from ship financing has created space for new financiers.

Photo: Colourbox
BY JAKOB VESTERAGER

The shipping crisis in Germany has prompted new financiers to show an interest in the country’s shipping industry. American private equity firms such as BlackStone Group, J.P. Morgan Asset Management, Oaktree Capital Group, Tennenbaum Capital Partners, and Delos Shipping have all started to buy new and used German ships as well as taking stakes in German shipping companies, writes Bloomberg.

"In the past, shipping companies were reluctant to make deals with foreign lenders, but this is changing significantly. I expect foreign investors to have the biggest market share in three to five years," said Claus Brandt, a shipping analyst at Pricewaterhouse Coopers AG in Hamburg to Bloomberg.

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