November 28 - E.R. Schiffahrt, the Germany-based group, which is known for its ship managment and financing activities, has revealed plans to develop a business offering investment opportunities for institutional investors.
The new activities will initially focus on the shipping and logistics sectors under the revised Blue Star brand, but a company spokesman declined to advise whether those sectors would include heavy lift and multipurpose vessels.
Blue Star will be led by Christoph Geck-Schlich as chief executive officer in cooperation with Bastian Hagebeuker and Tim Ostermann. The E.R. Group will contribute to the development of the new project with "funds in a mid-double-digit million amount".
Established in London in 1909, Blue Star became part of the E.R. Group in 2012.
E.R. Capital Holding is the financial holding and management company of Erck Rickmers. It controls investments in real estate, corporates, private equity and shipping. Several maritime service providers are part of the group, including ship management company E.R. Schiffahrt and asset manager Nordcapital.
