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Article: NBAD & DVB to Launch Aviation Investment Fund
- Article from:
- Al Bawaba
- Article date:
- September 27, 2009
CopyrightCopyright 2009 Al Bawaba. Provided by ProQuest LLC. (Hide copyright information)
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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. It is expected that the fund will acquire
approximately US$1 Billion in assets over the next two years. The
fund represents the first major cooperation between NBAD and DVB,
and both organisations bring complimentary ...