Quantum, Palma Capital launch ALIF fund
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Quantum Investment Bank Limited (Quantum) and Palma Capital Limited (Palma) have been retained as exclusive placement agents for launch of a shariah compliant aircraft leasing fund (ALIF Fund). This fund will be managed by the International Airfinance Corporation (IAFC) with Airbus and the Islamic Development Bank (IDB) as anchor investors and strategic partners.
The new aircraft leasing fund was launched in London. The ceremony was hosted by HRH Prince Turki Bin Salman Bin Abdulaziz Al Saud, chairman of the Board of Quantum in the presence of the Airbus delegation led by Habib Fekih, president of Airbus Group MENA. Also present were Moulay Omar Alaoui, chairman of Palma Capital and Dr Idriss Ghodbane, CEO and Board Member of Quantum Investment Bank.
With a targeted size of US$5 billion from a combination of equity and debt, the fund will focus exclusively on Airbus aircraft. The Fund will operate according to shariah principles and will purchase brand new and second hand Airbus aircraft to be leased to airline companies in the Gulf Cooperation Council (GCC) and Organization of Islamic Conference (OIC) member countries.
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