Natixis takes stake in Fexco-backed aircraft lessor

Investment will support Airborne Capital plan to manage assets worth $5bn

Natixis is the asset management arm of French bank BPCE. Photograph: iStock

Natixis is the asset management arm of French bank BPCE. Photograph: iStock

 

Natixis Investment Managers has taken a minority stake in Airborne Capital, the aviation leasing specialist backed by Fexco that launched in the State in November.

Aircraft-leasing professionals led by chief executive Ramki Sundaram launched Airborne Capital late in 2017 with plans to have $5 billion (€4 billion) in assets under its management within five years.

The company said on Thursday that Natixis, the asset management arm of French bank BPCE, has bought a minority stake in the business from existing shareholders, including Fexco.

Airborne would not say how much Natixis has paid or what size stake the French investor was taking.

Cian Dooley, one of Airborne’s founding partners, noted that regulations made it increasingly difficult for organisations such as Natixis to lease aircraft and engage in other specialist financing activities.

“It makes sense for them to work with somebody external such as Airborne Capital,” he said.

‘Sign of confidence’

A statement said that Natixis’s investment would allow Airborne to accelerate its plans while enabling its new shareholder to expand its expertise in alternative investments, specifically real assets.

Mr Sundaram welcomed Natixis’s move. “It is a strong sign of confidence in our strategy to gain the support of a top international asset manager and will help accelerate our growth plans,” he said. Mr Sundaram was previously global head of aviation with Natixis.

Jean Raby, Natixis chief executive, noted that Airborne had an experienced management team with a strong track record.

Natixis manages investments worth more than €813 billion.