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.

Nimrod launches new maritime venture

Nimrod launches new maritime venture

Nimrod Capital, which runs the Doric Nimrod Air trusts, has added a seafaring fund to its fleet.

Nimrod Sea Assets has listed in London after raising £79 million, which it will use to build a portfolio of between eight and 10 minority positions in special purpose holding companies, each of which will typically own and lease a vessel serving the offshore oil and gas industry.

These ships will be focused on the North Sea and South East Asia, and will include platform supply vessels and mobile offshore drilling units.

Nimrod is targeting a total internal rate of return of 14%, with a yield of 10% based on the issue share price of $1 (61p).

The group also manages the Doric Nimrod Air funds, which lease Airbus aircraft to Emirates Airlines.

The £410 million Doric Nimrod Air Two fund, which launched in 2011, has returned 13% in share price terms since then and currently yields around 8%.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
CIO Tapes 2: two warnings and a lot of optimism

CIO Tapes 2: two warnings and a lot of optimism

Our group of leading asset management CIOs see a lot of opportunities – and overseas investors are buying UK too

Play Wealth Manager Retreat 2017: size isn't everything

Wealth Manager Retreat 2017: size isn't everything

We asked our delegates at the Wealth Manager Retreat what they think about the recent wave of consolidation in the industry.

1 Comment Play CIO Tapes - part 3: 'passive funds are anti-capitalist'

CIO Tapes - part 3: 'passive funds are anti-capitalist'

Citywire recently gathered three of the UK's leading fund investment heads to discuss their hopes, fears and the issues that their jobs throw at them daily.

Read More
Your Business: Cover Star Club

Profile: Thomas Miller explains its post-restructure plans

Profile: Thomas Miller explains its post-restructure plans

Thomas Miller Investment’s (TMI) head of wealth Matt Phillips has strong opinions about many things

Wealth Manager on Twitter