Investec's Aviation Finance latest fund, Investec Aircraft Syndicate, has purchased a pair of used Boeing 737-800s from GECAS, Flightglobal has learned.
The 2009/10-vintage aircraft (MSNs 36816 and 37886) have a lease attached to Air China. The aircraft are powered by CFMI's CFM56-7B26 engines.
The acquisitions follow the purchase of a Boeing 777-200F in November, also from GECAS. The 777 (MSN 37710) is on lease to LAN Cargo.
Nord LB is the debt provider in the acquisitions.
Last November Investec Aviation Finance returned with Investec Aircraft Syndicate, which will invest $500 million in "new generation, fuel efficient aircraft" on lease to a number of airlines.
Investec says Investec Aircraft Syndicate attracts "high single-digit cash yield" paid from contracted fixed cash flows locked in for an average of five years. Also, the overall return expectation is in the "mid-teens" during a five- to eight-year horizon.
Investec's previous offering, Investec Global Aircraft Fund, has similar characteristics and manages 20 aircraft with an acquisition cost of $1 billion.
Flightglobal understands that three additional aircraft could join the Investec Aircraft Syndicate fund.