US shipping and energy transition investor Vision Ridge Partners is opening up in London to expand its reach.
The group, which has a 50% stake in Norway’s biggest ferry company Fjord1, said its first office outside the US will serve as a regional hub.
The idea is to deepen the firm’s industry relationships and long-standing “boots-on-the-ground” presence in the region, providing Vision Ridge with a larger dedicated local workforce.
Located on St James Square in the UK capital, the office will also give increased visibility into investment opportunities and partnerships.
The Colorado, New York, and California-based fund said it will continue building its portfolio with investments in sustainable assets, with the potential to achieve strong financial returns and positive climate mitigation.
“We are thrilled to open our London office, which formalises our presence abroad, as we seek to not only continue to grow our portfolio of investments in support of the transition to a lower-carbon economy but also deepen our institutional relationships in the region,” founder, managing partner and chief investment officer Reuben Munger said.
“Vision Ridge has a demonstrated history of sourcing and executing investments across Europe, and we believe now is the right time in our firm’s evolution to cement our position in London.”
Under Vision Ridge’s ownership, the proportion of electric vessels in operation at Fjord1 has increased by more than 50%.
Other investments include battery storage provider Key Capture Energy, renewable natural gas developer Vanguard Renewables and public vehicle-charging network EVgo.
Vision Ridge managed $3.25bn on behalf of institutional investors globally, as of 30 September.
Energy transition ‘fun’
In 2021, the company told TradeWinds that it had $1.25bn available for energy transition “fun”.
Fjord1 is also owned 50% by Per Saevik’s Havila Holding.
The group, with 85 ships, is estimated to be worth between NOK 8bn ($760m) and NOK 10bn.
The company has carried out a huge newbuilding programme over the last couple of years, adding 25 electric ferries.
“Expanding Vision Ridge’s presence in London is a marker of the progress we believe we have made in identifying, developing and transforming complex assets across energy, transportation and agriculture,” London-based partner George Polk said.
“We look forward to cultivating new and existing strategic relationships globally as we seek to continue executing our investment strategy for our clients.”
