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Sun 27 Sep 2009 12:08 PM

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NBAD, DVB launch aviation investment fund

Fund to invest principally in aircraft and engines on lease to international airlines.


National Bank of Abu Dhabi (NBAD)

and DVB Bank SE have announced the launch of a new aviation investment fund.

The fund will invest in aviation assets, principally aircraft and engines on lease to international airlines, the news agency WAM reported.

A joint statement by the banks said: "
NBAD

and DVB will act as 50-50 joint venture partners in establishing and managing the fund.

“As sponsors,
NBAD

and DVB will also proportionately invest in the fund alongside the investor base primarily from the UAE and other GCC countries.

"It is expected that the fund will acquire approximately $1bn in assets over the next two years.”

The fund is the first major cooperation between
NBAD

and DVB.

NBAD

currently operates across 13 countries on four continents, while DVB is the leading global specialist in international transport finance.

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