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Laxman Pai, Opalesque Asia: San Francisco, CA-based alternative asset manager, Sky Leasing raised $770m for Sky Fund V (SFV).
The aircraft leasing asset manager with extensive experience investing institutional capital in aviation said in a press release that SFV closed oversubscribed with approximately $770 million in capital commitments with strong support from existing and new investors that include global insurance companies, sovereigns, pension funds, endowments, foundations, and family offices.
The Fund is a continuation of the investment program of SKY Leasing focused on providing capital solutions to airlines seeking fleet modernization primarily through the sale-leaseback of new aircraft deliveries, said the release.
To date, SFV has committed over half of the capital raised to acquire a fleet of 48 aircraft with an average age under three years, it added.
"The capital raised for SFV is well positioned for the post-covid recovery period, which continues to present attractive investment opportunities for new and young mid-life aircraft," said Austin Wiley, Chief Executive Officer of SKY Leasing.
Eaton Partners acted as the exclusive global placement agent for the Fund.
SKY Leasing's fund management business was founded in 2019, in partnership with M&G Investments. Since 2016, SKY Leasing has invested over $7 billion to acquire new and young mid-life aircraft. It has offices in San Francisco, California, Dublin, Ireland, and Singapore. ...................... To view our full article Click here
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