The Australian operation of specialist banking group, Investec
has entered the aircraft leasing business with the launch of the
Investec Global Aircraft Fund.
Having raised an initial $73m (£37m) in capital, the fund aims
to generate consistent returns by leasing aircraft to airline
operators around the world. Seed investors include three large
industry superannuation funds: AUSCOAL Superannuation, Seafarers
Retirement Fund (SRF) and the Stevedoring Employees Retirement Fund
(SERF)
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The fund is in the process of acquiring a number of aircraft
which will be leased to a range of airline operators in different
jurisdictions and across different aircraft types.
Investec Bank (Australia) Ltd chief executive, Brian Schwartz,
said on April 2 that while the bank has considerable experience in
aircraft financing, the fund was its first institutional offering
which diversified from traditional asset classes of property and
private equity, offered by other Investec funds.
Sydney-based head of capital markets, José de Nobrega, said the
Global Aircraft Fund has significant implications.
“The fund capitalises on the Investec group’s global franchise
in aircraft finance and leasing and offers investors – both
institutions and private clients – the opportunity to participate
in transactions generated by this core expertise,” he
said
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By GlobalDataThe fund will be managed by senior Investec executives including
London-based Michael Weiss, who heads Investec’s aircraft financing
business, and Sydney-based David Phillips who leads the bank’s
Australian structured finance division.
“We have brought together an experienced and well respected
investment and funds management team, supported by the strong
technical knowledge of the International Bureau of Aviation, one of
the leading aviation consultancies in the world,” Phillips said.
“It was always our view that institutional investors would be
attracted to the asset class and the Investec management structure.
In particular, the infrastructure-like characteristics of
commercial aircraft leasing and its absolute return style profile
are ideal for this type of investor base.”
