Klapton announces transaction with Sevenseas Investment Fund

Home / Announcements / Klapton announces transaction with Sevenseas Investment Fund

SevenSeas Investment Fund, an umbrella fund incorporated in Luxembourg, has launched its first investment Sub-Fund, 7SEAS ONE, to raise $100m for investment in the dry bulk vessels sector.

Sevenseas Investment fund by Shay Reches

SevenSeas Investment Fund (www.7seasfund.com) is regulated by the CSSF (Luxembourg Financial Supervisory Authority) and supervised by Fuchs Asset Management S.A, who act as the Alternative Investment Fund Manager. EFG Bank (Luxembourg) S.A act as the Fund Depositary and Central Administrator, and the Fund is audited by Ernst & Young (Luxembourg) S.A.

SevenSeas is a project initiated by several Greek families, who have a strong and long presence in the maritime industry (such as Pateras and Tsirigakis) and managed by Prokopios (Akis) Tsirigakis (CEO) and Stefanos Michalis (COO).

Klapton Insurance Company role in the transaction is to provide investment protection guarantees, which deal with the performance of the marine assets valuations and consequentially enhances the protection the fund subsequently provides to its investors.

Stefanos Michalis stated: “The product offered by Klapton provides comfort to and facilitates our discussions with potential investors and has already assisted in securing investment in the 7SEAS ONE Sub-Fund.”

Michael Moquette of Equinoxe Investments S.A.(Geneva) said: “I am closely following SevenSeas Fund, and it’s offering is attracting significant interest in the market. Sevenseas are entering the market in a very well timed stage, as the limited capacity of dry bulk vessels is likely to result in an asset value increase in the coming few years”.