The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Awards

Islamic finance awards 2013: Wafra Capital Partners

Best leasing house


Wafra, a New York-based adviser indirectly majority owned by the Public Institution for Social Security of Kuwait, is an acknowledged leader in Islamic leasing, and keeps getting better.

A graph of Wafra’s leasing assets under management from 2005 to today is almost boringly consistent: a 30 degree angle up, up, up. Wafra is involved in the management of 23 equipment leasing funds with over $2 billion in capital. Some are ijarah leasing funds, targeting investment-grade and similar lessees; others are structured leasing funds that venture into higher-yielding growth and emerging lessees. The idea is that they pay monthly yields like treasuries, but with better returns and with Shariah compliance. Despite the use of emerging lessees in some funds, Wafra has never yet had a default on either principal or return.

Leasing funds are not always straightforward, and Wafra is skilled at finding diverse ways through the tangles of Shariah compliance. A recent $100 million financing for Reliant Asset Management to buy Ameri-Tech Industries, a modular building manufacturer and lessee, required a combination of ijarah leases, back-to-back sale leasebacks and special purpose vehicles.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree