FE Partners, LLC, is an investment firm based in Washington, D.C. that provides funding to preserve and maintain assets which are significant to the history of the United States. It is a joint-venture between Equator Group Holdings, LLC, a member of the Equator Capital Group of companies and the Timblo family, prominent members of the business community in Goa, India, who have deep ties to the Unites States and a keen appreciation of American history.
FE Partners is currently targeting historically significant antique vessels and is a unique source of capital to fund the maintenance, operations, and restoration of yachts, commercial vessels and decommissioned Naval ships that might otherwise fall into disrepair, be dismantled or removed from U.S. waters.
FE Partners' current maritime investments include:
Presidential Yacht Sequoia
During July 2012, FE Partners entered into an agreement giving it the option to acquire the former U.S. presidential yacht Sequoia, a 104-foot classic wooden yacht built in 1925 which served eight sitting U.S. president from Herbert Hoover to Gerald Ford. The Sequoia is perhaps the most significant piece of U.S. Presidential memorabilia in private hands and since 2000, the current owner has operated it as a charter vessel based out of the DC-owned Gangplank Marina. FE Partners is committed to acquiring, restoring and preserving the Sequoia so that future generations will be able to enjoy the storied past of this magnificent vessel.
Following litigation related to the transaction, the Delaware Court of Chancery granted FE Partners’ Motion for Default Judgment and confirmed its option to purchase the Sequoia. FE Partners is working to clear the Sequoia’s title of third-party liabilities before closing on the purchase and is particularly concerned by the millions of dollars of potential taxes and penalties related to the current owner’s unlicensed sale of alcohol and failure to collect or pay sales tax for over a decade. In order to ensure that FE Partners cannot be held financially responsible for such past activities, FE Partners intends to obtain appropriate releases from DC and certain other jurisdictions before closing on the acquisition which we hope to do prior to the end of 2016 and in no event later than July of 2017.
During 2013, FE Partners purchased Tenovus, a 31-foot “Seven Seas” yawl built for Joseph P. Kennedy by Boston Yacht Sales Inc in 1931. Mr. Kennedy had the vessel built for his sons, Joseph P. Kennedy, Jr. and John F. Kennedy, the future President of the United States, and named the boat for his then 10-person family. After his youngest son, Edward Kennedy, was born on February 22, 1932, Mr. Kennedy named the next family boat Onemore.
On September 4, 1931, Richard J. Sears took the iconic portrait of the 10 person Kennedy family in front of their Hyannisport home. On that same day, Sears photographed Joe and John Kennedy aboard Tenovus rescuing the family dog, Buddy, after he jumped overboard. This was also the same day that the then-6 year old Robert F. Kennedy was rescued by his older brothers after he jumped from Tenovus and almost drowned attempting to swim to shore, in order to impress his family. Recalling the episode while in the White House, President Kennedy said about his brother, then-Attorney General, “It showed either a lot of guts or no sense at all, depending on how you looked at it”.
Racing for the Osterville Yacht Club, the two Kennedy boys were the youngest crew and the Tenovus the smallest boat in the very first running of the prestigious 230-mile offshore Vineyard Race in July 1932. Only 8 of the 23 entrants finished due to a horrendous storm which beached the Tenovus but miraculously only did minor damage. The Kennedy family sold Tenovus during May of 1934.
The Company that built Tenovus, Boston Yacht Sales Inc., was founded and owned by Ashley D. Adams, who won the Navy Cross as a submarine-chaser during Word War-I. Adams built a total of 20 Seven Seas sailing yachts between 1930 and 1934. These include both Tenovus and the 45 foot schooner Amberjack II, which then-President Franklin Delano Roosevelt and his son, James, sailed for two summers up the New England coast to the Roosevelt family compound on Campobello Island.
FE Partners LLC
2101 L Street NW | Suite 800 | | Washington, DC 20037