Dynamis Capital PTE Ltd. has recently completed the acquisition of several ship financing transactions from Fleetscape Capital Ltd. (“Fleetscape”), a company owned by Oaktree Capital Management, L.P. (“Oaktree”), for an undisclosed sum.
As part of the transaction, Fredrik Ulstein and Kaizad Doctor, previously with Oaktree, have transitioned to lead Dynamis Management PTE Ltd..
Fleetscape was founded in 2017 by Oaktree as a provider of alternative capital solutions to the maritime industry.
Dynamis Capital PTE Ltd. is a Singapore-based company, with subsidiaries that currently own more than 20 vessels across various segments. The company is committed to the ongoing leasing of commercial maritime vessels, with a particular focus on supporting ship operators who are actively engaged in the industry’s energy transition. Dynamis Capital is part of the Quantum Pacific Group, an international group of businesses that includes significant interests in a broad range of industries globally. Companies associated with the group hold significant interests in, among other holdings, international shipping, chemicals, power generation and sports.
DNB Markets and Crédit Agricole served as advisors to Oaktree on the transaction.”
Quantum Pacific has extensive experience in the ship leasing sector, which is a key component of its broader investment strategy.
The company has been considering the creation of a standalone ship leasing platform for some time, and this initiative aligns perfectly with Oaktree’s sale process of Fleetscape
We are eager to leverage the investment team’s expertise in maritime finance and its systematic investment processes, with a strong focus on analytics and downside protection
Dynamis Capital’s strategy is closely aligned with that of Quantum Pacific and Eastern Pacific Shipping, particularly in actively contributing to the decarbonization of the maritime industry and addressing the growing demand for modern vessels equipped with green propulsion technology.
“We are excited to embark on this new venture with Dynamis Capital and believe that Quantum Pacific is the perfect partner for this journey. By combining Fleetscape’s expertise in structuring bespoke financing solutions with Quantum Pacific’s proven track record in forging successful partnerships, we are confident that Dynamis Capital is well-positioned for success. Combining the acquired Fleetscape transactions with the existing leasing portfolio contributed by Quantum Pacific is a key step in scaling our operations, which is vital in our industry,” commented Fredrik Ulstein.
“Dynamis Capital is an asset backed private credit platform offering superior risk adjusted returns with the added advantage of being de-correlated from the liquid investable segments. Dynamis Capital will operate as an independent entity under Quantum Pacific, but we see tremendous synergies across the broader platform. We plan to leverage their expertise and network to further strengthen the platform. Our ultimate goal is to become a leading, long-term provider of alternative financing solutions for the maritime industry,” added Kaizad Doctor.
Guillaume Bayol, Managing Director at Oaktree, said: “Dynamis has acquired a leading platform led by an experienced team together with a high-quality loan portfolio with reputable customers. We wish Fredrik, Kaizad and the rest of the team the best as they embark on this new chapter.”
Oaktree was advised by DNB Markets and Crédit Agricole in relation to the transaction.
Source: Dynamis Capital PTE Ltd.
