- New global platform will target modern and fuel-efficient NextGen aircraft
- CDPQ and SMBC Aviation Capital to target an initial deployment of USD 500 million per year, over three years
MONTRÉAL and DUBLIN, Jan. 29, 2024 /CNW/ - CDPQ, a global investment group, and SMBC Aviation Capital, the world's second largest aircraft leasing company, announced today that they have finalized an agreement to create a USD 1.5-billion global aircraft financing and leasing platform dedicated to modern, fuel-efficient NextGen aircraft.
This new platform will focus on worldwide opportunities in new technology aircraft and target an initial deployment of USD 500 million per year, over three years. SMBC Aviation Capital will source transactions and, under a sistership condition, invest in opportunities alongside the platform. SMBC Aviation Capital will also act as servicer of the platform, which will operate under the banner Maple Aircraft Company Holdings Limited.
"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," said Marc Cormier, Executive Vice-President and Head of Fixed Income at CDPQ. "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."
"We are pleased to partner with CDPQ on this new platform to benefit our airline customers worldwide," said Peter Barrett, Chief Executive Officer at SMBC Aviation Capital. "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."
At CDPQ, we invest constructively to generate sustainable returns over the long term. As a global investment group managing funds for public pension and insurance plans, we work alongside our partners to build enterprises that drive performance and progress. We are active in the major financial markets, private equity, infrastructure, real estate and private debt. As at June 30, 2023, CDPQ's net assets totalled CAD 424 billion. For more information, visit cdpq.com, consult our LinkedIn or Instagram pages, or follow us on X.
CDPQ is a registered trademark owned by Caisse de dépôt et placement du Québec and licensed for use by its subsidiaries. |
Based in the IFSC in Dublin Ireland, SMBC Aviation Capital is the second largest aircraft operating lease company globally, with an owned, managed and committed fleet of over 900 aircraft. The company focuses on the most technologically advanced, fuel efficient and narrowbody aircraft types, providing customers across the globe with the aircraft they need to successfully grow their businesses. Established in 2001, the company was acquired in 2012 by a consortium comprised of two of Japan's biggest companies SMFG and Sumitomo Corporation. For additional information, please visit SMBC Aviation Capital's website at https://www.smbc.aero
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SMBC AVIATION CAPITAL
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FGS GLOBAL
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Richard Webster-Smith
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SOURCE CDPQ
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