Apollo Funds to Acquire Hav Energy from HitecVision
Apollo (NYSE: APO) has announced that its managed funds will acquire Hav Energy, a maritime LNG infrastructure platform, from HitecVision. Established in 2022, Hav Energy operates in partnership with Knutsen LNG and jointly owns a portfolio of 10 newbuild LNG carriers, including two operating vessels and eight under construction at Hyundai Heavy Industries, scheduled for delivery in 2025-2026.
The vessels are fully contracted on long-term charters with investment-grade counterparties. The acquisition is positioned to capitalize on growing global LNG demand, projected to exceed 600 million metric tons annually by 2040, driven by Asian and European growth and emissions reduction efforts. Financial terms of the transaction were not disclosed.
Apollo (NYSE: APO) ha annunciato che i suoi fondi gestiti acquisiranno Hav Energy, una piattaforma marittima di infrastrutture LNG, da HitecVision. Fondata nel 2022, Hav Energy opera in collaborazione con Knutsen LNG e detiene congiuntamente un portafoglio di 10 navi metaniere di nuova costruzione, tra cui due unit脿 operative e otto in costruzione presso Hyundai Heavy Industries, con consegna prevista tra il 2025 e il 2026.
Le navi sono completamente contrattualizzate con noleggi a lungo termine con controparti di grado di investimento. L'acquisizione mira a sfruttare la crescente domanda globale di LNG, stimata superare i 600 milioni di tonnellate metriche all'anno entro il 2040, trainata dalla crescita asiatica ed europea e dagli sforzi per la riduzione delle emissioni. I termini finanziari dell'operazione non sono stati resi noti.
Apollo (NYSE: APO) ha anunciado que sus fondos gestionados adquirir谩n Hav Energy, una plataforma mar铆tima de infraestructura de GNL, de HitecVision. Establecida en 2022, Hav Energy opera en asociaci贸n con Knutsen LNG y posee conjuntamente una cartera de 10 transportadores de GNL de nueva construcci贸n, incluyendo dos embarcaciones operativas y ocho en construcci贸n en Hyundai Heavy Industries, con entrega prevista para 2025-2026.
Las embarcaciones est谩n completamente contratadas con fletamentos a largo plazo con contrapartes de grado de inversi贸n. La adquisici贸n est谩 dise帽ada para aprovechar la creciente demanda global de GNL, que se proyecta superar谩 los 600 millones de toneladas m茅tricas anuales para 2040, impulsada por el crecimiento en Asia y Europa y los esfuerzos para reducir emisiones. No se divulgaron los t茅rminos financieros de la transacci贸n.
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Apollo (NYSE: APO) a annonc茅 que ses fonds g茅r茅s vont acqu茅rir Hav Energy, une plateforme d'infrastructures maritimes de GNL, aupr猫s de HitecVision. Fond茅e en 2022, Hav Energy op猫re en partenariat avec Knutsen LNG et d茅tient conjointement un portefeuille de 10 m茅thaniers neufs, dont deux en service et huit en construction chez Hyundai Heavy Industries, avec une livraison pr茅vue entre 2025 et 2026.
Les navires sont enti猫rement contract茅s en affr猫tements 脿 long terme avec des contreparties de qualit茅 investissement. Cette acquisition vise 脿 tirer parti de la demande mondiale croissante de GNL, qui devrait d茅passer 600 millions de tonnes m茅triques par an d'ici 2040, port茅e par la croissance en Asie et en Europe ainsi que par les efforts de r茅duction des 茅missions. Les termes financiers de la transaction n'ont pas 茅t茅 divulgu茅s.
Apollo (NYSE: APO) hat angek眉ndigt, dass seine verwalteten Fonds Hav Energy, eine maritime LNG-Infrastrukturplattform, von HitecVision 眉bernehmen werden. Hav Energy wurde 2022 gegr眉ndet, arbeitet in Partnerschaft mit Knutsen LNG und besitzt gemeinsam ein Portfolio von 10 neu gebauten LNG-Tankern, darunter zwei im Betrieb befindliche Schiffe und acht im Bau bei Hyundai Heavy Industries, deren Lieferung f眉r 2025-2026 geplant ist.
Die Schiffe sind vollst盲ndig mit langfristigen Chartervertr盲gen bei bonit盲tsstarken Vertragspartnern ausgestattet. Die Akquisition zielt darauf ab, von der steigenden globalen LNG-Nachfrage zu profitieren, die bis 2040 voraussichtlich 600 Millionen metrische Tonnen j盲hrlich 眉bersteigen wird, angetrieben durch Wachstum in Asien und Europa sowie Emissionsreduktionsbem眉hungen. Die finanziellen Details der Transaktion wurden nicht bekannt gegeben.
- Portfolio of 10 LNG carriers with 100% long-term charter contracts with investment grade counterparties
- Strategic positioning in growing LNG market with projected demand of 600M metric tons by 2040
- Strong market fundamentals with limited newbuild LNG vessel supply
- Partnership with established operator Knutsen LNG provides operational expertise
- Financial terms not disclosed, limiting transparency on deal valuation
- 8 of 10 vessels still under construction, presenting potential delivery risks
- Significant capital expenditure required for remaining vessel construction
Insights
Apollo acquires LNG shipping platform with 10 contracted vessels amid growing global LNG demand, diversifying its infrastructure portfolio.
Apollo's funds have agreed to acquire Hav Energy LNG Holding AS from HitecVision, though financial terms remain undisclosed. This acquisition gives Apollo access to a maritime LNG carrier infrastructure platform with a portfolio of 10 newbuild LNG carriers - two already operational and eight under construction with delivery scheduled for 2025-2026.
The LNG carriers come with significant revenue security, as they are 100% contracted on long-term charters with investment grade counterparties. This structure typically provides stable, predictable cash flows with reduced counterparty risk - a key characteristic of infrastructure investments.
The market fundamentals supporting this acquisition appear favorable. According to the release, global LNG imports are forecast to reach over 600 million metric tons annually by 2040, driven by growth in Asia and Europe. Additionally, the combination of expected robust new liquification capacity coupled with limited newbuild LNG vessel supply creates potential tailwinds for existing LNG shipping assets.
For Apollo, this represents an expansion in the energy infrastructure space, specifically targeting LNG infrastructure which Joseph Romeo, Apollo Partner, describes as a "bridge fuel capable of reducing emissions for rapidly growing power demand." The partnership with Knutsen LNG, described as "a large owner-operator of LNGCs globally," likely provides operational expertise for these specialized vessels.
The acquisition aligns with broader energy security concerns globally and positions Apollo in the LNG transportation sector at a time when natural gas is playing a significant role in energy transition strategies. Without financial details, it's impossible to evaluate the valuation metrics or immediate financial impact on Apollo, but the strategic positioning appears sound based on the market dynamics outlined in the release.
Maritime LNG Infrastructure Platform Jointly Owns 10 LNG Shipping Vessels on Long-Term Charters with Investment Grade Counterparties
NEW YORK and STAVANGER, Norway, May 06, 2025 (GLOBE NEWSWIRE) -- Apollo (NYSE: APO) and HitecVision, a leading investor in the European energy industry, today announced that Apollo-managed funds (the 鈥淎pollo Funds鈥�) have agreed to acquire maritime liquefied natural gas carrier (鈥淟NGC鈥�) infrastructure platform Hav Energy LNG Holding AS (鈥淗av Energy鈥�) from HitecVision. Financial terms were not disclosed.
Established by HitecVision in 2022, Hav Energy invests in LNGC infrastructure projects in partnership with Knutsen LNG, a large owner-operator of LNGCs globally, and jointly owns a portfolio of 10 newbuild LNGCs which are
Global LNG imports are forecast to reach over 600 million metric tons annually by 2040, driven by growth in Asia and Europe as well as efforts to cut emissions in heavy industries and transportation, and expectations for robust new liquification capacity coupled with limited newbuild LNG vessel supply also provide strong tailwinds supporting Hav Energy鈥檚 future growth trajectory.
Apollo Partner Joseph Romeo said, 鈥淗av Energy has quickly scaled into a top platform facilitating the global transport of LNG, which we view as a bridge fuel capable of reducing emissions for rapidly growing power demand. We are excited to work with the Hav Energy team and their aligned, well-regarded partners in Knutsen to accelerate growth of the platform, which we believe can serve as a vital infrastructure link supporting enhanced energy resiliency for customers around the world.鈥�
Hav Energy CEO Randi Vestb酶 said, 鈥淭his transaction represents a critical juncture for Hav Energy as we continue to build a next-generation fleet of LNG infrastructure carriers and pursue attractive growth opportunities to expand our capabilities alongside our new partners at Apollo. We are grateful for the guidance, backing and strategic support from HitecVision, which has been instrumental in our development and positions us for our next phase of growth as industry tailwinds continue to drive long-term LNG demand globally.鈥�
HitecVision Senior Partner Jan H. Solstad said, 鈥淲e are proud that we in partnership with Knutsen LNG and the Hav management team have been able to develop Hav LNG into a differentiated, highly scalable platform, leveraging HitecVision鈥檚 significant expertise in building companies within the energy space. With a leading management team, strong institutional partners and clear strategy, we believe Hav Energy is well positioned for future success.鈥�
Thommessen, Stephenson Harwood LLP and Vinson & Elkins LLP served as legal counsel to the Apollo Funds. HitecVision has been advised by DNB Markets and law firm BAHR.
About Apollo
Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of March 31, 2025, Apollo had approximately
About Hav Energy
Hav Energy is a Norway-based energy infrastructure company established by HitecVision in 2022. The current asset portfolio has 10 state-of-the-art newbuild LNG vessels co-owned and operated by Knutsen LNG.聽
About HitecVision
HitecVision is a Norwegian private equity firm and a leading provider of institutional capital to Europe鈥檚 energy industry. For almost four decades, we have been investing in the energy sector, starting out in the oil and gas industry before turning to the current focus on decarbonisation and energy transition. We have about EUR 9 billion in assets under management, and is headquartered in Stavanger, with offices and investment professionals in Oslo, London and Milan. Our 65-person team focuses on developing profitable and sustainable companies, working closely with our management teams and boards.
Contacts
For Apollo:
Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
212-822-0540
.
Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
212-822-0491
.
For HitecVision:
Birgitte Kolstad
Director Investor Relations
FAQ
What is the size of Apollo's Hav Energy acquisition in terms of vessels?
When will APO complete the delivery of all Hav Energy LNG vessels?
What is the contract status of Hav Energy's LNG vessel fleet?
What is the projected global LNG demand driving Apollo's Hav Energy acquisition?
Who is Apollo partnering with to operate the Hav Energy LNG vessels?
