Investec鈥檚 fourth aircraft leasing fund, seeking to raise $500m (鈧�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: 鈥淪ince we launched our first equity fund ten years ago, Investec鈥檚 platforms have delivered consistent returns to investors. We鈥檝e 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.
鈥淭he 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鈥檚 capabilities. As we are approaching the second round of fundraising we are looking to deploy the initial capital.鈥�
