NordLB to sell $1.5B In Shipping Loans

by Maria Sheahan (Reuters) Aug 22 German state-owned lender NordLB and KKR Credit said they had reached an agreement by which KKR Credit will acquire a $1.5 billion portfolio of shipping loans from NordLB jointly with an unspecified sovereign wealth fund.   The portfolio of performing and non-performing loans will include up to 100 ships and will form the seed … [Read more...]

KKR to Sell Turkish U.N Ro-Ro Ferry Business

By Ercan Ersoy and Isobel Finkel Aug. 5 (Bloomberg) -- KKR & Co. agreed to sell its Turkish ferry business to a partnership of local private-equity firms Esas Holding AS and Actera Partners LP. Terms of the purchase of the U.N. Ro-Ro Isletmeleri AS operation won’t be disclosed, according to a joint statement from Esas, the owner of Turkey’s biggest low-cost airline, … [Read more...]

KKR Partners With OEG Offshore Group

Investment firm KKR announced today it has acquired a majority stake in Aberdeen-based OEG Offshore Group, a company that supports the offshore oil and gas by manufacturing and leasing Cargo Carrying Units (CCUs) to offshore oil and gas operators.  These CCUs are essentially purpose-designed and built boxes that are loaded with cargo on to the deck of an offshore supply boat … [Read more...]

KKR Enters Maritime Finance

By Devin Banerjee Aug. 20 (Bloomberg) -- KKR & Co., the private-equity firm led by Henry Kravis and George Roberts, created a unit to lend to the maritime industry, including assets such as drilling rigs and shipping vessels. The unit, called Maritime Finance Company, will be seeded with $580 million, of which 45 percent will come from KKR’s balance sheet, its … [Read more...]