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Article: NBAD, DVB to launch US$ 1b aviation investment fund.
- Article from:
- WAM - United Arab Emirates News Agency
- Article date:
- September 27, 2009
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ABU DHABI, Sep. 27th, 2009: National Bank of Abu Dhabi ("NBAD") and DVB Bank SE ("DVB") have signed an agreement to launch a new aviation investment fund. The fund will invest in aviation assets, principally aircraft and engines on lease to international airlines.
"NBAD and DVB will act as 50%-50% joint venture partners in establishing and managing the fund. As sponsors, NBAD and DVB will also proportionately invest in the fund alongside the investor base primarily from the UAE and other GCC countries", according to a joint press release.
"It is expected that the fund will acquire approximately US$1 Billion in assets over the next two years," it added.