Industry funds back Investec fund
A number of industry superannuation funds have given Investec the backing to launch a specialist aircraft leasing fund — the Investec Global Aircraft Fund.
Investec announced today that it had raised an initial $73 million for the fund, with seed investors including AUSCOAL Superannuation, Seafarers Retirement Fund and the Stevedoring Employees Retirement Fund.
It said the fund was in the process of acquiring a number of aircraft, which would be leased to a range of airline operators in different jurisdictions and across differing aircraft types.
The fund’s investment decisions will be managed by an investment committee comprised of a majority of independent executives with significant experience in aircraft leasing, airlines and the general aviation industry.
Commenting on the move, Investec Bank (Australia) chief executive Brian Schwartz said that while the bank had considerable global experience in aircraft financing, the Global Aircraft Fund represented its first institutional offering and diversified away from traditional funds management asset classes such as property and private equity.
AUTHOR
Mike Taylor
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