Blue Ocean Maritime Income plc

Investment Manager
As one of the world's largest investors in alternative investment strategies with USD 20.7bn in AUM as of 30 June 2018, EnTrustPermal has the global talent, scale and resources to bring clients meaningful innovation in a dynamic industry
With histories dating back to 1997 and 1973 respectively, EnTrust and Permal combined their deep industry knowledge and expertise in 2016 in an effort to lead the way forward in alternative investing, creating EnTrustPermal
With 11 offices globally, EnTrustPermal offers investment solutions through customised portfolios, co-investments, direct investments and established funds across alternative strategies including diversified, strategy focused and opportunistic
Blue Ocean Strategy
Led by Svein Engh, Managing Director & Portfolio Manager, and supported by a team of maritime analysts and financiers with experience through multiple market and industry cycles
Blue Ocean Maritime Income plc is the fourth direct fund in the Blue Ocean range
The primary objective of the Company is to generate long-term, consistent shareholder returns, predominantly in the form of income distributions, from direct lending and similar financing opportunities to vessel owners and operators, and other maritime businesses

Blue Ocean Maritime Income plc

David MacLellan
Non-Executive Chairman

David MacLellan, a resident of the United Kingdom, is the founder and currently Chairman of RJD Partners, a midmarket private-equity business focused on the services and leisure sectors. Previously, Mr MacLellan was an executive director of Aberdeen Asset Managers plc following its acquisition in 2000 of Murray Johnstone where he was latterly Chief Executive having joined the company in 1984.

Mr MacLellan has served on the boards of a number of companies and is currently chairman of John Laing Infrastructure Fund and a non-executive director of J&J Denholm Limited, a private company registered in England with its headquarters in Glasgow, which operates in the shipping industry. He resigned as a non-executive director of Maven Income and Growth VCT 2 plc. with effect from 16 September 2015.

David MacLellan is a past council member of the British Venture Capital Association and a member of the Institute of Chartered Accountants of Scotland.

Timothy Luckhurst
Non-Executive Director

Timothy Luckhurst is an experienced senior financier with a 34-year banking career that specialised in asset finance, relationship management, developing new business and fostering a broad network. Mr. Luckhurst is currently Head of Treasury at Optivo, a 44,000 unit housing association with properties in London, the South East and the Midlands, and is responsible for sourcing liquidity to finance a £3.5 billion build programme.

In his previous role at Royal Bank of Scotland, Mr. Luckhurst had global responsibility for formulating strategy and executing complex projects within tightly defined timelines. This led to assignments across Europe, Asia and North America, as well as setting up and running a debt advisory business in the Middle East for 2 years. His final role at Royal Bank of Scotland saw him lead their efforts to exit its ship finance business by managing the sale of its loan book to private equity, traditional banks and alternative pools of investment capital - loan sales of c.$2.7 billion achieved in 2016 and 2017. Prior to the Royal Bank of Scotland's decision to exit shipping finance, he was responsible for managing its capital via day one loan structuring, ensuring the most efficient use of Royal Bank of Scotland's capital and returns reflective of client, market and asset risk.

Soha Gawaly
Non-Executive Director & Chair of Audit Committee

Soha Gawaly is the Managing Director and founding partner of Strategic Investments Group Limited, since 2002 an exclusive Institutional distributor for a select group of fund managers in Europe. Mrs. Gawaly is also a director of Strategic Active Trading Funds Plc, an Irish UCITS umbrella Investment company and Strategic Investments funds Plc. Recently Mrs. Gawaly has been appointed Governor of City of London Corporation’s City of London School for Girls.

Prior to forming Strategic Investments Group, Mrs. Gawaly worked for Merrill Lynch & Co. in London. Before that, Mrs. Gawaly worked for 7 years with Arthur Andersen as a Senior Management Consultant in the Corporate Finance and Emerging Markets Division covering the Middle & Far East and Central & Eastern Europe, assisting Central Banks and Capital Market Authorities in implementing privatisation projects and financial restructuring. Mrs. Gawaly has also worked for Bechtel in the Middle East as a Financial Analyst providing consultancy services to the Engineering Industries Company (EIC) in the implementation of its privatisation program.

Mrs. Gawaly holds an MBA degree from American University in Cairo.

EnTrustPermal

Svein Engh
Managing Director & Portfolio Manager

Svein Engh is a Managing Director at EnTrustPermal, serving as Portfolio Manager for the firm’s Blue Ocean Funds.

Svein has over 30 years of global experience in financial services, predominantly in the shipping & offshore/oil services sectors. Among his various positions, Svein previously served as the Chief Executive Officer at Octavian Maritime Holdings, Inc., In 2012, Svein was selected to establish a new shipping and offshore business for CIT Group Inc. with a focus on growing a lending and leasing portfolio. Svein built a team of 15 experienced shipping professionals at CIT.

Svein holds a Bachelors and Masters of Business Administration from Ohio University, where he was the recipient of the Distinguished Professor’s Scholarship and graduated with Honours.

Omer Donnerstein
Senior Vice President, Investment Research

Omer is a Senior Vice President at EnTrustPermal and serves as an Investment Analyst for the firm’s Blue Ocean Funds.

Prior to joining EnTrustPermal, Omer was a Director & Group Head at CIT Maritime Finance, overseeing financing activities in maritime and offshore. Prior to heading the Maritime team, Omer was responsible for CIT’s maritime and offshore structured finance and lease transactions, as well as developing the firm’s global relationships with financial institutions for primary and secondary opportunities. Prior to CIT, Mr. Donnerstein was a Vice President at Octavian, a New York based special situations hedge fund, where he helped build and manage the fund's maritime investment portfolio. Omer also held positions in the finance and investment team of a multi-billion dollar single family office and as a corporate and securities attorney.

Omer received his MBA from The Wharton School, University of Pennsylvania, and a Bachelor of Laws (LL.B.) combined with undergraduate program of studies in Management, magna cum laude, from Tel-Aviv University.

Caridad (“Cary”) Schweizer
Vice President, Loan Management

Cary Schweizer is a Vice President at EnTrustPermal and serves as the Loan Portfolio Manager for the firm’s Blue Ocean strategy.

Prior to joining EnTrustPermal, Ms. Schweizer spent 3 years as a Vice President at CIT Maritime Finance and was responsible for building out a maritime-specific loan portfolio management infrastructure, which helped the group grow from $250m to $1.8bn in assets. Ms. Schweizer managed all aspects of the loan funding, closing and administration process and served as liaison with CIT’s support teams including legal, compliance, operations, finance and risk. Prior to CIT, Ms. Schweizer worked at BNP Paribas Fortis for 13 years, in the shipping & offshore (S&O) group. Her role evolved from an Analyst in relationship management to Vice President overseeing portfolio management and was instrumental in integrating the S&O portfolio during the BNP Paribas/Fortis Bank merger.

Ms. Schweizer received her BS from The College of New Jersey in 1997 and her MBA in Finance from St. Thomas Aquinas College in 2012.

Arjun Thampan
Vice President, Investment Research

Arjun Thampan is a Vice President at EnTrustPermal and serves as Investment Analyst for the firm’s Blue Ocean strategy.

Mr. Thampan has extensive investment banking and principal investing experience across diverse infrastructure & real estate sectors. Prior to joining EnTrustPermal, he spent 3 years at Macquarie Capital in New York and, before that, Heidmar, a leading pool manager in the maritime sector where he worked in derivatives trading & risk management for over 2 years.

Mr. Thampan holds a Masters in Engineering Management from Dartmouth College and a Bachelor’s degree from the National Institute of Technology Karnataka.

Gregg S. Hymowitz
Chairman and Chief Executive Officer

Gregg Hymowitz is Chairman and Chief Executive Officer at EnTrustPermal and Chair of EnTrustPermal’s Global Investment Committee.

Mr. Hymowitz was a Founder and Managing Partner of EnTrust Capital since its inception in April 1997 and the Chair of EnTrust Capital’s Investment Committee. Prior to this, Mr. Hymowitz was a Vice President at Goldman, Sachs & Co., which he joined in 1992. For the preceding two years, Mr. Hymowitz was an attorney in the mergers & acquisitions practice at Skadden, Arps, Slate, Meagher & Flom.

Mr. Hymowitz graduated cum laude from Harvard Law School with a Juris Doctorate in 1990, and received a B.A., Phi Beta Kappa, from the State University of New York at Binghamton in 1987. He was the 1985 Harry S. Truman Scholar from New York, the 1987 British Hansard Society Scholar and the 2004 recipient of the Governor’s Committee on Scholastic Achievement Award.

Mr. Hymowitz is a former board member of the Board of Trustees of Montefiore Medical Centre, and he served two terms as a Trustee of the Riverdale Country Day School.

Matthew Lux
Managing Director and Deputy General Counsel

Matthew Lux is Managing Director and Deputy General Counsel at EnTrustPermal and a member of the Compliance & Conflicts Committee. His responsibilities include legal and transactional matters for the firm’s Blue Ocean funds and other direct lending and investing strategies, as well as the negotiation and structuring of co-investments across a number of strategies and asset classes.

Mr. Lux was previously the General Counsel and Head of Compliance at Rockbay Capital Management, an event driven hedge fund manager, where he was responsible for all legal and compliance affairs. Prior to joining Rockbay, Mr. Lux was an associate in the Corporate and Financial Services Group at Willkie Farr & Gallagher in New York, where his practice included a variety of transactional, capital markets and investment fund matters.

Mr. Lux received his Bachelor’s degree from Union College and his Law degree from the University of Pennsylvania Law School.

Blue Ocean Maritime Income plc

Investment Objective

To generate long-term, consistent shareholder returns, predominantly in the form of income distributions, from direct lending and similar financing opportunities to vessel owners and operators, and other maritime businesses

Key Investment Highlights

Focus on situations currently being underserved by traditional maritime lenders, including debt financing to small to medium-sized privately owned shipping companies
Steady, predictable cash flows, inflation protection of real assets, and low correlation to equity and bond markets
The Company originates, structures and invests in asset-based financings secured by high-quality maritime assets:
  • -   Primarily originates and/or invests in first lien loans secured by commercial ships
  • -   Opportunistic investing via loan origination and/or purchases of loans on the secondary market
Diversified portfolio of 10-12 investments

Target Returns*

Target NAV Total Return of 8-10% per annum over the medium term (on opening NAV)
Target annual Dividend Yield of 7% on issue price in year 2, with quarterly distributions
* Each of the Target NAV Total Return and the Target Dividend is a target only and not a profit forecast. There can be no assurance that either the Target NAV Total Return or the Target Dividend can or will be achieved from time to time or at all and it shall not be seen as an indication of the Company's expected or actual results or returns. Accordingly, investors should not place any reliance on the Target NAV Total Return or the Target Dividend in deciding whether to invest in the Ordinary Shares or assume that the Company will make any distributions at all.

General Enquiries

Please contact the Investment Manager:
Roger Harle, Senior Vice President

020 7009 9232

Omar Kodmani, Senior Executive Officer

020 7389 1322


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