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Apollo announced on Tuesday that Apollo-managed funds have agreed to acquire Hav Energy LNG Holdings from Norwegian private equity firm HitecVision for an undisclosed sum.
Established by HitecVision in 2022, Hav Energy invests in LNG infrastructure projects in partnership with Norwegian owner Knutsen LNG.
According to New York-based Apollo, Haw Energy jointly owns a portfolio of 10 newbuild LNGCs which are 100 percent contracted on long-term charters with investment grade counterparties.
The portfolio includes two modern operating vessels and eight under construction at the Hyundai Heavy Industries shipyard in Korea due to be delivered in 2025 and 2026, it said.
According to its website, in 2022, Hav Energy became a co-owner of four French SPVs, which will construct, own, and operate four LNG vessels with Knutsen LNG.
The portfolio was further expanded in 2023, when Hav Energy invested in six additional French SPVs.
“Hav 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,” Apollo partner Joseph Romeo said.
“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,” he said.
Apollo further expanding LNG business
As of March 31, 2025, Apollo had approximately $785 billion of assets under management.
This is not the first investment by Apollo-managed funds in the LNG shipping industry.
In 2022, Apollo and US LNG player Energos Infrastructure completed the formation of their $2 billion joint venture.
Apollo now owns 100 percent in Energos after NFE sold its 20 percent stake to the asset manager last year.
Energos owns and operates 13 LNG vessels, consisting of nine floating storage and regasification units, two floating storage units, and 2 LNG carriers.
Last year, the firm purchased two 2021-built FSRUs from affiliates of Greece’s Dynagas.