Shipping-focused fund manager Pelagic Partners has bought 20% of Golden Energy Offshore Services (GEOS), which owns and operates a fleet of offshore support vessels.
Pelagic, which is based in Cyprus, said it bought 95m shares as part of a private placement led by Golden Energy’s largest shareholder, Oaktree Capital Management.
The investment will make Pelagic the second-largest shareholder in the Oslo-listed offshore shipowner, with a seat on its board of directors.
