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