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Karl Stagno-Navarra
It has been announced in London that investors are being invited to participate in a EUR200 million fund that is set to be launched by the best known name in yachting Camper & Nicholsons.
The fund aims to invest in existing and new marinas across the Mediterranean and America.
Camper & Nicholsons Marina Investments will float the fund on the Alternative Investment Market in London, giving retail investors the chance to gain access to what has traditionally been a niche sector.
Speaking to Business Today, Nick Maris, chairman of Camper & Nicholsons Marinas - shareholders and operators of Grand Harbour Marina in Cottonera - explained that the company that will manage the fund, is Maltese owned and aims to respond to growing demand of developing marinas across the Mediterranean and America. Nick Maris, hopes to raise EUR100 million from investors, and will borrow the same amount to take the total up to EUR200 million.
“This has been a record year for boat sales across the globe. People are getting richer and buying bigger boats, however the sales are not matching the supply of berth spaces in the most sought after regions, such as the Mediterranean and America,” he said.
While Malta offers a potential for further investment in marinas and boating services, particularly due to its growing popularity as a boating destination, further sales are pressuring the market to supply more berthing spaces, which in so far do not exist.
The company, will have two joint chief executives, Nick Maris, who is the chairman of the company that owns Camper & Nicholsons trademarks, and Nicholas Papanicolaou, an experienced marine-industry executive.
This week, Nick Maris is to meet with a number of potential investors at the beginning of a roadshow that is kicking-off from London. |
