Allen & Overy has advised Hamburg-based Rickmers Group on setting up a joint venture with funds affiliated with Apollo Global Management LLC.
The joint venture, which will be domiciled in Singapore, will invest in container ships, initially focused on secondary market vessels. It has the capacity to invest up to $500m (£310.5m), and investments are expected to be made over a period of several years.
The Allen & Overy team comprised partners Dr Nicolaus Ascherfeld (corporate, Hamburg) and Dr Michael Bernhardt (private equity, Frankfurt), and associates Max Landshut (corporate) and Dr René Galle (antitrust, all Hamburg).
Singapore law advice was provided by partner Brendan Hannigan, counsel Lian Chuan Yeoh, senior associate Peter Beer and associate Kimiyo Lee (all corporate).