Wealth Manager - the site for professional investment managers

Register for full access to Citywire’s Fund Manager database, news and analysis. 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
Play Investment Pulse: the highs and lows of 2014

Investment Pulse: the highs and lows of 2014

This week's Investment Pulse looks back at some of the biggest stories of the year as well as looking forward to 2015.

Play Inside ETFs: Why the US bull-run still has legs

Inside ETFs: Why the US bull-run still has legs

Global equities suffered a sharp sell-off in the third quarter but exchange traded fund investors are continuing to back the US to outperform in 2015

Play Paul Niven: I won't rip up the Foreign & Colonial Trust history book

Paul Niven: I won't rip up the Foreign & Colonial Trust history book

The newly appointed manager of the Foreign & Colonial trust talks about his plans for UK's oldest investment company.

Your Business: Cover Star Club

Manchester wealth firm hires Coutts director for London launch

Manchester wealth firm hires Coutts director for London launch

Former Coutts director Tony Robinson has joined Chartered Wealth Management to head the company’s newly opened London office.

Wealth Manager on Twitter