OSLO — Seatankers, the highly effective holding firm of Norwegian-born billionaire John Fredriksen, stated on Thursday it had employed a veteran fund supervisor to broaden the group’s portfolio and herald exterior capital in a brand new unit.
Vegard Soeraunet, till not too long ago an funding director at Norway’s ODIN Fund Administration, can be in control of “long-term and lively possession” exterior of Seatankers’s transport and offshore oil companies industries, the corporate stated.
“Getting the chance to take this to the subsequent degree with a brand new construction below Seatankers, is a superb alternative,” Soeraunet stated in an announcement.
It was the second key appointment at Seatankers in latest days following the Aug. 28 naming of a hedge fund supervisor as its new chief govt.
Whereas Fredriksen initially constructed his fortune from transport, controlling oil tanker group Frontline and dry bulk operator Golden Ocean, he has since expanded into fish farming, actual property and different companies.
“Seatankers holds a number of experience and will get entry to many fascinating funding alternatives and though we at all times have a number of free capital obtainable, there are numerous good alternatives we should let go,” stated Kathrine Fredriksen, one among founder John Fredriksen’s two daughters.
“The thought is that we reap the benefits of this, within the new firm, opening up for exterior capital,” she stated.
Seatankers will proceed to construct its funding crew and set up long-term buildings till the top of 2020, the corporate added.
John Fredriksen, 76, final yr instructed Norwegian media he may search exterior traders to take bigger stakes in a few of his corporations and will even relinquish management of some operations.
Along with Frontline and Golden Ocean, Seatankers is the highest shareholder of fish farmer Mowi, actual property group Norwegian Property and oil rig operator Seadrill, amongst others.
(Reporting by Terje Solsvik; Enhancing by Christopher Cushing)