Canada’s Caisse de depot et placement du Quebec (CDPQ) has teamed up with aircraft lessor SMBC Aviation Capital to create a $1.5bn (€1.38bn) global aircraft financing platform.
The two firms have set up Maple Aircraft Company Holdings to finance and lease modern and fuel-efficient next-generation aircraft, with a plan to deploy $500m initially per year, over three years.
SMBC Aviation Capital will source transactions, invest alongside the platform and act as a servicer.
Peter Barrett, CEO at SMBC Aviation Capital, said: “CDPQ is an experienced, well respected, global investment group, which is aligned with our own views on capital allocation and a sustainable aviation industry. We look forward to working with our new partners over the coming years on this collaboration.”
Marc Cormier, EVP and head of fixed income at CDPQ, said: “Building on CDPQ’s experience in the aircraft financing industry, through this new platform, we will continue to provide flexible financing solutions for airlines to meet their future fleet requirements.
“We’re delighted to partner with SMBC Aviation Capital, an industry leader with a successful track record, who has demonstrated their commitment to sustainable aviation, to find the best opportunities in the commercial aircraft industry and to achieve attractive risk-adjusted returns over the long term.”
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