Investec’s fourth aircraft leasing fund, seeking to raise $500m (€424.7m), has secured over 30% of its target capital from European institutions.
Investec Aviation Finance has launched Investec Aircraft Syndicate to buy some of the latest generation Airbus and Boeing narrow and widebody aircraft, on lease to a range of international airlines.
The manager said Investec Aircraft Syndicate - which has secured more than $150m of cornerstone investment from European financial institutions - expects a second close in the first quarter of next year.
Alok Wadhawan, the head of aviation finance at Investec, said: “Since we launched our first equity fund ten years ago, Investec’s platforms have delivered consistent returns to investors. We’ve managed aircraft through the cycle and have successfully monetised three funds by selling 75+ aircraft over the past three years, building strong credentials in this space.
“The commitment by insurance and pensions companies in the UK and Germany who have chosen us as a partner to advise on their investments in aircraft leasing through this fund are testimony of our team’s capabilities. As we are approaching the second round of fundraising we are looking to deploy the initial capital.”