Introducing ourselves

About us

Our mission is to provide qualified management of the wind-down portfolio while preserving the assets of our owners, the federal states of Schleswig-Holstein and Hamburg.

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Our Structure

hsh portfoliomanagement AöR is a public law institution and is wholly owned by the (German) federal states of Schleswig-Holstein and Hamburg. In its two departments 50 experts across diverse functional areas work towards a value-preserving wind-down of the loans portfolio.

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“The protection of the interests of the federal states is for us more than just a business objective. It's in full conformity with our conviction.”
Dr. Karl-Hermann WitteMember of the Board of Managing Directors
“The shipping market has always recovered in the past – and will also recover this time. Now we jointly have to hold out for a little while.”
Ulrike HelferMember of the Board of Managing Directors
“Managing such a loan portfolio in a bank-related environment is our experience and our expertise. It is a challenge that we gladly accept.”
Team portfoliomanagement

Our Portfolio

Portfolio

In order to relieve the bank’s balance sheet from non-performing loans, HSH Nordbank AG economically transferred a non-performing portfolio of shipping loans to hsh portfoliomanagement AöR with effect from 1 July 2016. The original exposure at default (EaD) as at the reference date, 31 December 2015, amounted to about five billion euros.

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Facts & figures

History

The transferred portfolio consisted of 253 ships financed by HSH Nordbank AG in the period from 1992 to 2014. From the construction of the ships to the shipping crisis from 2008 onwards to the transfer of the portfolio – the foundation of hsh portfoliomanagement AöR is based on a special genesis.

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