Morgan Stanley Investment Management has announced the sale of its 50% ownership stake in Larus Holding Limited, which fully owns Höegh Evi Ltd., to funds managed by Igneo Infrastructure Partners. The other half of the company will remain with Aequitas Limited, indirectly controlled by Leif O. Høegh and family trusts.

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, including developing floating solutions for Carbon Capture and Storage, ammonia, and hydrogen segments. It aims to introduce hybrid FSRUs by 2028 to allow parallel imports of LNG and hydrogen.

Alberto Donzelli, Managing Director and Co-Head of Europe for MSIP, stated: “Since acquisition, we have worked with Höegh Evi to further strengthen its position as a leader in the FSRU market, providing essential long-term LNG regasification capacity and enhancing critical energy security for countries around the world.”

MSIP partnered with the Høegh Family to de-list Höegh Evi from the Oslo Stock Exchange in May 2021 and privatized Höegh LNG Partners LP from the New York Stock Exchange in September 2022.

Markus Hottenrott, Chief Investment Officer for MSIP, commented: “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 is recognized as a pioneer in floating energy infrastructure with a large fleet of FSRUs. The company continues to build infrastructure necessary for energy transition, including floating terminals for ammonia and hydrogen importation.

Morgan Stanley Infrastructure Partners manages approximately $17 billion in assets globally since its inception in 2006. It focuses on investments across transport, digital infrastructure, energy transition, and utilities.

Morgan Stanley Investment Management oversees $1.6 trillion in assets worldwide as of September 30, 2024.