ATL Partners Forms JV with Canadian Pension Fund for Aviation Finance

Oct 15 2015 | 11:58pm ET

Aerospace and transportation private equity specialist ATL Partners has inked a partnership with Canada’s Public Sector Pension Investment Board (“PSP”) to form SKY Leasing.  

The new venture is headquartered in Dublin and will have more than $250 million in initial equity capital available to provide sale/lease-back financing solutions globally to commercial airlines seeking to lease young mid-life Boeing and Airbus aircraft, according to statement. SKY Leasing will also act as servicer to 54 aircraft on behalf of three securitizations.

As part of the transaction, SKY Leasing will acquire certain assets of Sky Holding Company controlled by leasing industry veteran Richard Wiley. Wiley and other key members of Sky Holding will form the leadership team of SKY Leasing.

“We are very excited to partner with ATL and PSP Investments, two investors with a deep understanding of the commercial aerospace sector,” said SKY Leasing CEO Wiley. “We look forward to building a best-in-class lessor with an initial target of $1 billion of Boeing and Airbus aircraft.”

“We have admired Richard’s prior ventures at SHC, Pegasus and Jackson Square Aviation, and are delighted to partner with him and his management team in establishing SKY Leasing,” said Frank Nash, CEO of ATL.  “As a sector-focused private equity fund, ATL is mandated to deploy equity capital into the transportation continuum.”

“As a long-term investor, [we] view aviation finance as an attractive sector to deploy significant capital in the years ahead,” said Jim Pittman, managing director, private equity, for PSP.  “This investment is consistent with our direct and co-investment strategy to partner with experienced management teams who have the capability to scale investments over time. 

PSP is one of Canada’s largest pension investment managers, with $112 billion in assets under management as of March 31, 2015. It invests in public equities, private equity, bonds and other fixed income securities, real estate, infrastructure and natural resources on behalf of the federal Public Service, Canadian Forces and the RCMP.

Founded in 2014, New York-based ATL Partners – the acronym stands for Aerospace, Transportation and Logistics Fund – makes private equity, preferred or debt investments in the aerospace, transportation and logistics sectors, principally in North America. 

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