Hayfin Capital Management LLP (“Hayfin”) has agreed an exclusive partnership with Breakwater Capital (“Breakwater”), a leading maritime finance specialist. Under the terms of the arrangement, Breakwater will work exclusively with Hayfin on debt transactions in the maritime sector.
Hayfin will provide the credit, risk control and capital allocation framework and Breakwater will focus on developing and maintaining relationships with ship owners and operators, origination of debt transactions and the initial analysis of opportunities. The partnership will benefit from Hayfin and Breakwater’s combined credit expertise and established local sourcing networks.
Tim Flynn, Chief Executive Officer of Hayfin said: “This is an exciting opportunity to enter a sector where we see significant opportunity, working side by side with an established operator with a strong track record and a distinguished pedigree. Demand for capital within the maritime sector is robust. Traditional lenders have reduced exposure or have completely withdrawn from the sector, creating ideal conditions for non-traditional lenders such as Hayfin to originate or acquire solid credits on good terms.”
Andreas Povlsen, Chief Executive Officer of Breakwater said: “Bringing together our scalable platform, deep sector knowledge and strong relationships, with Hayfin’s lending expertise will enable us to capitalise even more effectively on the rapidly improving conditions for maritime finance. We look forward to a very successful partnership between two firms of very similar cultures and approach to credit.”