Danish shipping executive Carsten Mortensen has launched his own private equity shipowning venture, which is set to close its first move in the product tanker market.

Mortensen is working with fellow deal-maker Freddie Lee on Dee4 Capital Partners, which has raised cash for a first KS (limited partnership) project and is eyeing further transactions.

Former Norden boss Mortensen has inaugurated the new investment firm nine months after he resigned as CEO of BW Group.