Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Doric seeks £220m to get third aircraft fund off the ground

Doric seeks £220m to get third aircraft fund off the ground

Doric, the asset manager behind plane funds Doric Nimrod Air One and Nimrod Air Two, is to launch a third closed-end fund.

Like its previous launches, the asset manager is hoping to get another plane fund off the ground. 

It will be a Guernsey-domiciled, limited liability company on the specialist fund market of the London Stock Exchange, and will come to market next month, Wealth Manager understands.

It is expected that Doric Nimrod Air Three (DNA3) will initiate a financing deal similar to its previous two launches, which have leased aircrafts out to leading firms and proved popular with institutional fund and wealth managers because of their simplicity and clear income stream.

It is understood that DNA3 is hoping to attract in the region of £220 million of equity at launch, and this will be matched with around £410 million of debt financing in order to acquire four new Airbus A380s later this year.

The planes will be leased to Emirates on a 12-year term.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Brewin's Gutteridge: Yuan direction

Brewin's Gutteridge: Yuan direction

This week Brewin Dolphin's research head chats to Fidelity Asian Investment Directors Jenny Lee and Gary Monaghan about the big changes in China.

Play On the Road Challenge: horsing around on the polo pitch

On the Road Challenge: horsing around on the polo pitch

Libby Ashby takes to the polo pitch with Stuart Leigh-Davies from Redmayne-Bentley for an 'On the Road' challenge.

Brewin's Gutteridge: where Miton's Godber sees value

Brewin's Gutteridge: where Miton's Godber sees value

This week Brewin Dolphin's research head talks to George Godber, co-lead fund manager of the Miton UK Value Opportunities fund, about value investing.

Your Business: Cover Star Club

Profile: what tempted Brewin's Glasgow team over to Rathbones?

Profile: what tempted Brewin's Glasgow team over to Rathbones?

Rathbones’ Glasgow office has only been open for three months but the team, led by Angus Kerr, has already attracted new clients

Wealth Manager on Twitter