DIFC-based aviation fund launched with $200m commitments

NCB Capital (DIFC) Limited announces fund that has acquired $800m portfolio of aircraft
The fund has acquired a porfolio mix of Boeing and Airbus aircraft.
By Staff writer
Fri 13 Apr 2018 12:05 AM

Dubai-based NCB Capital (DIFC) Limited, a subsidiary of NCB Capital Company, has announced the launch of a global aviation fund with $200 million of commitments.

The NCB Capital Aviation Fund I holds a majority stake in Peregrine Aviation Topco Limited, an NCB Capital (DIFC) Limited managed vehicle that has acquired a $800 million portfolio of 21 aircraft.

The portfolio comprises a mix of narrow-body and wide-body Airbus and Boeing aircraft on lease to 14 airlines across the world, a statement said.

It added that AerCap Holdings is providing technical and lease management services while also holding a minority stake in the portfolio.

The statement said the fund offers investors exposure to the global aviation leasing industry that provides "attractive returns" that are uncorrelated with other alternative asset classes.

“We were delighted to offer this unique investment opportunity to our investors. The fund attracted a large number of investors, highlighting the appeal of this differentiated opportunity," said Sarah Al Suhaimi, NCB Capital’s CEO.

Saudi-based NCB Capital was founded in 2007 as the investment banking, brokerage and asset management arm of the National Commercial Bank.

For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.

Last Updated: Fri 13 Apr 2018 12:30 AM GST

Subscribe to our Newsletter

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.