Creative Finance Group

Golden Bridge Finance Group

A New Breed in Shipping Finance

Index

. New Industry Entrant, but Growing Rapidly

. Blue Marine Funds by GBAMC
. A new breed in Korean Shipping Funds
. Closing Remarks

. New Industry Entrant, but Growing Rapidly !

GoldenBridge Finance Group: Specialized in Alternative Investment.

GoldenBridge
Finance Group

Securities

Savings
Bank

Capital

Asset
Management
Company

Date of Establishment

9 Feb, 1999

C.E.O

Jakap Koo

Capital

KRW 10 billion

Employee

36 Employees

AUM

USD 1.12 billion

Specialty

Alternative Investment including

Real estate, Ship Financing, PEF

GBAMC ranked 11th on Alternative Investment out of 72 AMCs !

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GoldenBridge AMC: AUM USD 1.12 billion, a Quarter in Shipping Finance

Intensively focused on Alternative Investment segment
Approximately, 90% of our Portfolio invested in the field of
Shipping & Real Estate Finance
Recently, Built up USD 266 mil assets in Shipping Finance

Portfolio

Real Estate

: 609 mil

7%

Shipping

: 266 mil

Other A.I.

: 149 mil

16%

Stock and bonds : 104 mil

-------------------------------------

22%

55%

Total

: USD 1.12 billion

Established USD 266 mil AUM in shipping finance within 1~2 years!
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. Blue Marine Funds by GBAMC

Already Launched Blue Marine 1st through 4th Fund

Blue Marine Fund Series Track Record
No.
GB-Blue Marine
Fund 1
GB-Blue Marine
Fund 2
GB-Blue Marine
Fund 3
GB-Blue Marine
Fund 4
Total

Ship Type

Investment
Amount

Term

Target Rate

Investment Type

Capesize Bulker

20 mil

5 yrs

10.8%

BBCHP

15,000 DWT Chemical

Tanker *2
Cape, Panamax,
Supramax, Kamsarmax
Bulkers

10.8 mil

10 yrs

9%

BBCHP

215.2 mil
(Contract640mil)

5 yrs

12~15%

Equity

Panamax Bulker

20 mil

10 yrs

9.8%

BBCHP

USD 266 mil (Contract value : USD 690.8 mil)

Enter firstly into the market right after confirming the bottom of the industry in mid 2009
Successfully generating minimum 9% to expected 15% in IRR basis
Offered various types of Investment : Dept type, Hybrid type and Pure Equity type
Efficiently managing the owned vessels by outsourcing Shipping Service Companies
* Various Source of Investors : Insurance companies, Savings Banks, Pensions
& other Institutional Investors!
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Fund Structures
Structure 1: Debt Type Financing

Golden

GB-Blue
Marine
Fund

Bridge
AMC

Vessels

Seller

Institutional
Investors

GB-Blue
Marine
Fund

Bridge
AMC

Junior Loan
From the Fund

Principal&
Interest

SPC
(Buyer/
Owner)

Contracted
price
Chartering
Income

Principal&
Interest

Investment Trust

Fund Management

Investment Trust

Fund Management

Golden

Structure 2: Equity Type Financing

Principal&
Profit

Vessels

Senior

Seller

Bank
Senior Loan
from the bank

Contracted
price

BBCHP

Shipping related
Services

Equity Investment
By Charterer

Equity investment
From the Fund

SPC

Charterer

Principal&
Interest

(Buyer/
Owner)

Chartering
Income

Time Charter
Contract

Charterer

Senior
Bank

Senior Loan
from the bank

Service
Contract

Shipping
Service
Company

Institutional
Investors

. A New Breed in Korean Shipping Funds

Recent Trend: Hybrid & Equity types like BlueMarineFund 3 currently launched
Case 1. Asiapacific SIC 16th set up mid 2010.

Case 2. Badaro SIC 17th set up mid 2010.

: 57K, Bulker

: 82K, Bulker * 4

: 55% Senior Loan by SPDB, BBC 5yrs,

: 40% Senior Loan by BNP Paribas, TC 5yrs with Cargill ,

Extra Capital Gain expected at sales

Extra Capital Gain expected at sales

Case 3. Hi Gold-Ocean Shipping Fund set up mid
2010.

Case 4. Badaro SIC 14~16th set up mid 2010.

: 56K, Bulker * 2

: 40~60% Senior Loan Raised

: BBC 5yrs with first class shipping company,

: BBCHP 5yrs with first class shipping company,

: Bulkers

Extra Capital Gain expected at sales

Profit Sharing at sales at the rate of 2:8

Starting from 2H 2009, Equity type Funds launched for the purpose of an asset play.
Among Korean investors, Shipping Finance considered as not only pursuing Capital gain, but also
generating consistent & stable Cash Flow.

More Korean Institutional investors start to look at Shipping finance as their Major Alternative
investment Vehicle.

Due to the short history of Equity type investment, Success story needed to facilitate more
investors to come on board.

As asset price appreciates, some Investors preferred more risk adverse investment, such as Debt
type finance.
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Providing various structures for Different Investors Needs & Market Cycles

Hybrid Type Financing

Debt+Equity type of financing
Pursuance of asset sale for
extra capital gain
Bare Boat Charter contract is

Soft
Market

Flat
Market

Debt Type Financing

possible
Generating Fixed Interest
over 5 to 10 years
Principal is guaranteed
Participating Bond Issuance is

Equity Type Financing

Pure Asset player type
Consistent cash flow by time

possible
Hard
Market

Charter contract
Outsourcing shipping related
businesses

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Total Solution for Shipping Financing & Alternative Investment

Specialized Shipping Finance Team
Well trained and experienced Shipping finance Team
Built up Strategic Cooperation System with various industry players

Directly managing the owned vessels

Global Investment Opportunity

Closed deals with Taiwan & Venezuela based companies
Raised Overseas Senior Loan

Close relationship with A.I. Investors

Providing Total Portfolio Solution for A.I. Investors
Investors increasingly express their interest in Shipping finance.
Allocating Assets in Shipping Finance, Real estate & other Investments

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. Closing Remarks

12

Providing Financial Solutions for both investors & shipping companies

Major institutional Investors in Korea manage their assets up to approximately USD

800 billion.

Over the past 5years, Real Estate investment is the major alternative investment
among Korean institutional investors.

Exposure of Alternative investments by Korean investors has increased substantially,

and Shipping finance becomes a key role in the sector.

Golden Bridge AMC eager to provide Financial solutions for both investors and
shipping companies.

Overseas expansion is planned and global partners are secured.

We expect more Golden Bridge Blue Marine funds to come in the near future.

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Golden Bridge AMC

Between Investors and Shipping industry

FL 5, Goldenbridgebuilding, 222, Chungjeongro 3Ga, Seodaemun Gu,

Seoul, Korea
Tel: 02) 360-9523

Fax: 02) 360-9559

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