*Partnership grants Commercial Bank exclusive right to market in Qatar WCPI’s ‘Leasing and Finance Programme’
Commercial Bank has entered into a partnership agreement with WCP Investments (WCPI), a joint venture between NBK Capital (NBKC), the investment arm of National Bank of Kuwait, and Wafra Capital Partners (WCP), a New York-based investment manager.
This partnership grants Commercial Bank, which is Qatar’s first private bank, the exclusive right to market to its customers in Qatar WCPI’s ‘Leasing and Finance Programme’.
The LF Programme's fund seeks to achieve its investment objective of distributing income to investors monthly, by investing in equipment leasing and related transactions and asset-backed and structured finance transactions.
The agreement enables Commercial Bank to pioneer the distribution of the LF Programme in Qatar, allowing the bank, therefore, to provide yet again unique banking products and services into the Qatari market.
Launched more than 18 years ago, the LF Programme is a private credit strategy that aims to generate attractive risk-adjusted returns that are distributed on a monthly basis to investors principally by investing in a portfolio of leasing and other asset-based or structured finance transactions diversified across sectors, credit profiles and assets.
This partnership will, therefore, open the door for Commercial Bank customers to benefit from services and products that are new to the market in Qatar.
Amit Sah, executive general manager and head (Retail Banking) said, “Qatar continues to have a sizeable opportunity for wealth management and partnerships like this enable us to offer our customers choice, which is an essential part of a well-planned and managed portfolio. This partnership will provide Commercial Bank customers the opportunity to invest in a diversified portfolio, including leasing, as part of our wealth management strategy”.
Faisal al-Hamad, CEO, NBK Capital said, “The Leasing and Finance Programme is one of NBK Capital’s flagship strategies benefiting from a unique investment approach that aligns stakeholder interests with those of our clients. The LF Programme has raised in excess of $7.5bn across more than 70 funds since inception 18 years ago. Today, we look forward to working with Commercial Bank, through WCPI, as a partner in offering this LF Program to Qatari clients”.
The offering of the LF Programme to Commercial Bank customers will give them “access to appealing combinations” of various investment solutions and will contribute to meeting their specific financial needs.
The LF Programme availability on the market gives leeway to Commercial Bank customers to take the lead in benefiting from new and unique services in Qatar.
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