UAE - Mubasher: The UAE-based Novus Aviation Capital and Japan’s Sumitomo Mitsui Trust Bank (SuMi TRUST) announced the launch of a second co-sponsored equity investment fund, Ortus II, which initially targets $200 million.
Ortus II has been oversubscribed with nearly $300 million in raised funds as of 30 September after it was opened for investors in February, according to a press release.
This fund has been launched following the success of the award-winning $200 million Ortus fund to strengthen the partnership between Novus and SuMi TRUST.
During the second quarter of 2019, Ortus II has been awarded industry accolades and closed two leases deals, the two entities said, noting that the fund will maintain the Ortus fund’s focus and strategy on acquiring commercial aircraft leased to airlines around the world.
This fund comprises a portfolio of global airlines that cover commercial aircraft from both Airbus and Boeing, they highlighted.
“Our growing partnership with SuMi TRUST through the establishment of Ortus II speaks to the continued strong demand from leading Japanese institutional investors. The commercial aviation market remains robust in Asia and further afield, so we believe this is a good time to pursue existing and prospective investment opportunities,” Hani Kuzbari, managing director of Novus Aviation Capital, commented.
Mitsuru Koguchi, General Manager of SuMi TRUST, said: “We were pleasantly surprised of the speed of the fund raising and oversubscription for Ortus II. It really reflects the track record of the precedent fund and investors’ recognition of the stability of aircraft investment returns.”
