Morgan Stanley Investment Management has announced an agreement to sell its 50% ownership stake in Larus Holding Limited, the sole owner of Höegh Evi Ltd., to funds managed by Igneo Infrastructure Partners. Aequitas Limited, controlled by Leif O. Høegh and family trusts, will maintain its 50% stake.
Höegh Evi is a major player in the global market for Floating Storage and Regasification Units (FSRUs) and Liquid Natural Gas Carrier vessels. The company is transitioning towards clean energy infrastructure assets, focusing on carbon capture and storage, ammonia, and hydrogen segments. It aims to convert to hybrid FSRUs by 2028, facilitating parallel imports of LNG and hydrogen.
Alberto Donzelli from Morgan Stanley Infrastructure Partners stated: “Since acquisition, we have worked with Höegh Evi to further strengthen its position as a leader in the FSRU market.”
In collaboration with the Høegh Family, Morgan Stanley Infrastructure Partners delisted Höegh Evi from the Oslo Stock Exchange in May 2021 and took private its subsidiary Höegh LNG Partners LP from the New York Stock Exchange in September 2022.
Markus Hottenrott highlighted: “Höegh Evi is another example of how MSIP’s ability to partner and collaborate with family shareholders provides differentiated sourcing capabilities that can create substantial value for our investors.”
Höegh Evi remains committed to developing infrastructure for energy transition with floating terminals for ammonia and hydrogen importation among other initiatives.