DIF Capital Partners Invests in a Portfolio of LNG Assets

DIF Capital Partners (through its DIF Core Infrastructure Fund I) announced yesterday it signed final documentation with ship-owner Geogas Maritime and Access Capital Partners for the acquisition of a 50% stake in a French incorporated company that will own and operate a fleet of five to-be-built LNG carriers. The remaining 50% will be held by Nippon Yusen Kabushiki Kaisha (NYK).

Thomas Vieillescazes, Head of France, DIF Capital Partners said: “This is an excellent opportunity for DIF CIF I to invest in high quality assets and grow DIF’s footprint into the expanding LNG sector alongside strong and experienced counterparties. We’re also very proud to participate in a strategic project for the further development of the French LNG sector”.

The five 174,000 cbm vessels will be built by South Korean shipyards and equipped with LNG fuelled propulsion technology. The first ship is expected to become operational in April 2020. All five ships will fly the French flag. The vessels will be chartered to a large French and a large European utility under long-term contracts and will be project financed under a customary French lease structure.