EnTrust Global’s Blue Ocean Funds have reached an agreement to acquire Offshore Merchant Partners (OMP), a prominent alternative investment fund manager specializing in the maritime and energy sectors. The acquisition, formalized through a Sale and Purchase Agreement, is anticipated to conclude in the first quarter of 2024.
OMP, established in 2013, has effectively deployed around USD 700 million across various credit, leasing, and structured equity instruments. Headquartered in Oslo, Norway, OMP specializes in providing capital to maritime transportation and energy service assets through tailor-made structured equity and credit instruments.
This acquisition follows a period of robust growth for the Blue Ocean strategy, which concluded its initial Funds with approximately $3 billion raised. Moreover, Blue Ocean has already exceeded $1 billion in fundraising for its second offering, surpassing its initial target. With a team of 17 investment professionals, set to expand further with the OMP acquisition, this marks a significant milestone for EnTrust’s expansion efforts.
Svein Engh, Senior Managing Director and Portfolio Manager of the Blue Ocean Funds, highlighted the successful execution of sizable and intricate transactions by the Blue Ocean team, citing the acquisition of Maas Capital in 2021 as another testament to their capabilities.
Omer Donnerstein, Managing Director and Co-Portfolio Manager of the Blue Ocean Funds, emphasized the strategic value of the OMP acquisition, underscoring its potential to enhance Blue Ocean’s presence in the maritime and energy industry while leveraging the expertise of the skilled team based in Oslo.
Gregg S. Hymowitz, Chairman and CEO of EnTrust Global, attributed the overall success and growth of Blue Ocean to its steadfast focus on the maritime industry and the cohesive team culture fostered within EnTrust Global over the past eight years.
About EnTrust Global: EnTrust Global, founded in 1997 by Chairman and CEO Gregg S. Hymowitz, is a leading alternative asset management firm with approximately $17.2 billion in total assets. The firm caters to over 500 institutional investors across 48 countries, managing around $11 billion in customized strategic partnerships. EnTrust Global offers a diverse range of alternative investment opportunities spanning private debt, real assets, opportunistic co-investments, and direct investments. Headquartered in New York and London, EnTrust Global operates 11 offices worldwide
