SMBC Aviation Capital has closed GAEL II (Global Aviation Equipment Leasing), its second fund targeting the Japanese financial investor market.
GAEL II is a closed-end fund which has raised equity capital from 14 Japanese investors to acquire a portfolio of eight aircraft from SMBC Aviation Capital. The lessor launched GAEL I in 2019.
“GAEL II is an opportunity for a number of Japanese equity investors to deploy capital into stable and predictable returns backed by a high-quality portfolio of aircraft that will be serviced by SMBC Aviation Capital,” said SMBC Aviation Capital head of aircraft trading Michael Littleton.
In addition to its joint venture with La Caisse, which launched in 2024, as well as its growing Japanese operating lease business, the lessor manages 110 aircraft valued at over $4.5bn on behalf of its investor customers.