DGAP-News

Ernst Russ AG and the Ecofin Group establish Elbe Financial Solutions

DGAP-News: Ernst Russ AG / Key word(s): Joint Venture Ernst Russ AG and the Ecofin Group establish Elbe Financial Solutions 20.06.2017 / 16:40 The issuer is solely responsible for the content of this announcement.

Ernst Russ AG and the Ecofin Group establish Elbe Financial Solutions

EFS Holding S.A. is an international investment services firm focused on the maritime and infrastructure sectors, and also holds a Hamburg based operating subsidiary named EFS Elbe Financial Solutions GmbH.

- Balance sheet solutions for ship financing industry in general

- Development and launch of investment products targeted to shipping loans and assets

- Similar approach to infrastructure and energy related investments

- Offices in Luxembourg and Hamburg

Luxembourg/Hamburg, 12 June 2017 - The maritime asset management firm Ernst Russ AG based in Hamburg and the specialist investment group Ecofin Holdings Limited (Jersey) are pooling their expertise in a new company called Elbe Financial Solutions (EFS), bringing banks and investors together.

"While banks want to significantly reduce the volume of their shipping loans, an increasing number of experienced investors are expressing an interest in acquiring such loans," says Bernard Lambilliotte, Co-Founder of Ecofin Holdings Limited (Jersey) and Vice Chairman of Ecofin Ltd. (London), describing EFS's target groups. One of the firm's main objectives will be to enable banks to outsource their exposures to shipping loans, thereby providing balance sheet relief. EFS will assist institutional investors and specialised investment funds in gaining exposure to such loan portfolios. EFS will also supply solutions to loan administration and to operational requirements from the underlying ship assets. A structured finance approach will be adopted for the acquisition of such distressed receivables (via funds regulated in Luxembourg, for example) and will offer investors a familiar and proven approach. Ecofin Group's past experience in structuring such investments in the energy and infrastructure sectors will contribute to EFS investment process.