Saudi investment manager NCB Capital has launched a global aviation fund after raising $200 million in commitments through private placement.
The fund holds a majority stake in Peregrine Aviation Topco, a managed vehicle owned by NCB Capital’s parent company that has acquired an $800 million portfolio of Airbus and Boeing aircraft on lease to 14 airlines across the globe.
The fund is designed to offer investors exposure to the global aviation leasing industry which, says NCB Capital, provides attractive returns uncorrelated to other alternative asset classes.
The product is also a demonstration of the firm’s commitment to offering a “robust platform of innovative and diverse investment solutions”, said NCB Capital chief executive Sarah Al-Suhaimi.
Separately, NCB Capital will suspend subscription and redemption of units in all of its public mutual funds from April 3, 2018 due to a system upgrade that will enable clients to manage all of their investments via a single platform, says the firm.
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