SSaif Fund 1 LP
SilverNote Capital Partners Limited has launched a global Shariah aviation investment fund: SAIF Fund I, LP (the “Fund”). The Fund is aimed at clients who wish to adhere to the investment principles of Islamic law.
Silver Note Capital Partners Limited will be the General Partner to the Fund and Silver Note Capital Management Limited will act as the investment manager (the “Manager”) and will provide services to the General Partner and the Fund covering transaction sourcing, aircraft management, technical services, risk management and lease administration.
The Fund’s primary activities will be the leasing of aircraft through a combination of operating and finance leases. The Fund will invest in high quality aircraft assets leased to airlines sourced by SilverNote from airlines, aircraft lessors and aircraft and aero-engine manufacturers. The Fund intends to invest a substantial part of its portfolio in liquid aircraft types such as the Airbus A320 and Boeing B737 families which are in high demand to avoid uncertainty.
The Fund will only invest in Shariah compliant investments and ensure a diversified investment strategy in terms of lessees, country/regional risk, aircraft types etc. Aircraft leasing is ideally suited to Shariah investing. The Fund will make investments through Islamic financing structures such as Ijara, Ijarah wa iqtina and Murabaha.
Portfolios will be independently reviewed and endorsed by ZICO Shariah Advisory Services Sdn Bhd by the Fund’s Shariah law adviser. ZICO Shariah Advisory Services Sdn Bhd provides initial approval on investment objectives and strategy of the Fund, as well as ongoing supervisory and monitoring services to ensure continuous adherence and validation to internationally accepted Shariah principles and standards.
SAIF Fund 1 LP is administered by Ocorian Fund Management Services (Jersey) Ltd (“Ocorian”). Ocorian is a regulated entity that handles all fund administration and all client money and receipt and distribution of payments under the leases and the fund’s investor agreements.