Macquarie Group has announced that Dutch pension investor PGGM Infrastructure Fund (PGGM) will take a 25% interest in its subsidary Macquarie AirFinance.
The investment is PGGM’s first in the aircraft leasing sector. PGGM has capacity to deploy additional capital to support the growth of Macquarie AirFinance.
Macquarie’s head of transportation finance, Stephen Cook said: “We are delighted to have PGGM as a shareholder in Macquarie AirFinance. PGGM is a strong, long-term institutional investor and is an ideal partner for Macquarie to support our strategy for continued investment and growth in the aircraft operating lease sector. John Willingham will continue as Chief Executive Officer of the world-class Macquarie AirFinance team.”
PGGM’s head of Infrastructure, Erik van de Brake added: “We are very pleased to establish this long-term partnership with Macquarie in this new sector. Macquarie AirFinance is managed by a team of seasoned professionals, who have a proven track record in the aircraft leasing industry. We will look to grow the Macquarie AirFinance business, and continue to support the company’s strategy.”
Completion of the transaction is subject to customary closing conditions.