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Private Equity Investment - More than a Spectator Sport
Marine Money, 4 March 2015
www.tuftonoceanic.com 2
CONFIDENTIAL
TUFTON OCEANIC GROUP - WHO WE ARE
Specialist
Investment
Managers
� Shipping� Offshore oil & gas
services� Energy sector
Specialist
Investment
Managers
� Shipping� Offshore oil & gas
services� Energy sector
We establish and manage investment vehicles that invest in shipping and oil services assets throughlong-term Lease Structures, Private Equity and Distressed Opportunities. Tufton Oceanic also
manages the Oceanic Hedge Fund
DIVERSIFIED
SOLUTIONS
Our investment decisions are supported by our in-house ResearchDepartment that is specialized in the shipping and energy markets
RESEARCH
CAPABILITIES
We have been investing in our sectors for 30 years and the senior partnershave backgrounds in shipping, investment banking and asset management
SHIPPING &
FINANCE EXPERTS
Global presence with 60 employees in London, Isle of Man, Dubai, Limassol, Singaporeand Hong-Kong
INTERNATIONAL
Regulated by the FCA, FSC and DFSA in our principal operating locations of London, the Isle of Manand Dubai
REGULATED
Tufton Oceanic was established in 1985 and has been focused on its target sectorssince formation, consistently investing in and directly owning shipping and oil servicesassets and taking advantage of market cycles for the benefit of our institutional partners
TRACK-RECORD
Our dedicated Technical Department, based in Cyprus includes experts withship-officer and marine engineering experience who provide support andadvice on all technical aspects of vessel ownership and operation
TECHNICAL
KNOWLEGDE
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CONFIDENTIAL
PRIVATE EQUITY - LOOK TO THE POSITIVES IT CAN DELIVER
� Provides a small but important source of capital
� Opposition to Private Equity participation:
− Don’t really understanding the industry
− Short term investment horizon
− Speculative investors
� Typically not Passive Investors – add value by:
− Improving corporate governance and financial
transparency
− Focusing business models
− Growing market share through selective
consolidation
− Access to more sophisticated funding products and
capital markets
”
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CONFIDENTIAL
COMPETITION FOR ACCESS TO CAPITAL MARKETS
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HAFNIA TANKERS
A PRIVATE
EQUITY CASE
STUDY
`
Creation of Hafnia Tankers through merger of BTS Tanker Partners LLC and Tankers Inc., US$ 235m
private placement and acquisition of 10 Product Tankers
M&A Deal of the Year 2013
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CONFIDENTIAL
TUFTON / BLACKSTONE INVESTMENT IN PRODUCT TANKERS
- Partnership with Blackstone funds
- 7 product tankers are acquired
- Total fleet of 7 Handysize + 2 LR1s
Tufton’s ODF acquires
majority stake in 2 x
handysize secondhand
product tankers
2H 2011 1H 2012
The road to BTS Tankers The road to Hafnia Tankers
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CONFIDENTIAL
DEVELOPMENT OF MERGER CANDIDATE
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CONFIDENTIAL
CREATION OF HAFNIA TANKERS
7 x Handysize (BTS)
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CONFIDENTIAL
ROLL OUT OF BUSINESS PLAN
6 x eco Handysize
(HMD Newbuilds)
www.tuftonoceanic.com 10
CONFIDENTIAL
KEY CONTACT DETAILS & DISCLAIMER
TUFTON OCEANIC - LONDON
Erik A. Lind Chief Executive Officer
E-mail:
Tel:
+44 (0) 20 7518 6751
Andrew Hampson Head of Asset Backed Investment
E-mail:
Tel:
+44 (0) 20 7518 6718
TUFTON OCEANIC (MIDDLE EAST) LTD - DUBAI
Marcus Machin Chief Executive Officer
E-mail:
Tel:
+971 (0) 4 7026 503
Ronan Nash Head of Business Development
E-mail:
Tel:
+971 (0) 4 7026 508
Mathieu Guillermit Assistant Vice President
E-mail:
Tel:
+971 (0) 4 7026 505
This presentation (the “Presentation”) was prepared and is being
delivered solely by Tufton Oceanic Group and it is for discussion
purposes only. The Presentation is based solely on publicly
available information. Neither Hafnia Tankers Ltd nor any
executive officer or board member of Hafnia Tankers has reviewed
or comment on this Presentation and no statement herein (or any
oral statements related hereto) shall be attributed to Hafnia
Tankers. No representation or warranty, express or implied, is or
will be given by Hafnia Tankers, Tufton or their respective directors,
officers, employees or advisers or any other person as to the
accuracy or completeness of the information contained in this
presentation and no responsibility or liability is accepted for the
accuracy or sufficiency thereof. Nothing in this presentation
constitutes, and should not be construed as, an offer or invitation
or recommendation to buy or sell any of the securities of any
company mentioned or described herein.