Apollo Global Management Inc. announced that funds it manages have agreed to acquire Hav Energy LNG Holding AS from HitecVision, according to the company's release. The financial terms of the transaction were not disclosed.
Established by HitecVision in 2022, Hav Energy is a Norwegian maritime liquefied natural gas carrier (LNGC) infrastructure platform. In partnership with Knutsen LNG, a global owner-operator of LNGCs, Hav Energy jointly owns a portfolio of 10 newbuild LNGCs. These vessels are fully contracted on long-term charters with investment-grade counterparties.
The fleet includes two modern operating vessels and eight under construction at the Hyundai Heavy Industries shipyard in Korea, scheduled for delivery in 2025 and 2026.
Joseph Romeo, Partner at Apollo, stated, "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. 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."
Randi Vestbø, CEO of Hav Energy, commented, "This transaction represents a critical juncture for Hav Energy as we continue to build a next-generation fleet of LNG infrastructure carriers and pursue attractive growth opportunities to expand our capabilities alongside our new partners at Apollo."
Jan H. Solstad, Senior Partner at HitecVision, added, "We are proud that we in partnership with Knutsen LNG and the Hav management team have been able to develop Hav LNG into a differentiated, highly scalable platform, leveraging HitecVision’s significant expertise in building companies within the energy space."
Apollo is a global alternative asset manager offering investment services across various asset classes, including credit, private equity, and real assets. As of March 31, 2025, Apollo had approximately $785 billion in assets under management.
HitecVision is a Norwegian private equity firm specializing in investments in the European energy sector. With approximately EUR 9 billion in assets under management, the firm focuses on developing profitable and sustainable companies within the energy industry.
Knutsen LNG is a global owner and operator of LNG carriers.