Canadian investment company CDPQ is tying up with SMBC Aviation Capital to establish a new leasing and aircraft finance platform.
It will be worth $1.5 billion – sourced from $500 million annual investment over three years – and focus on modern, next-generation aircraft.
The new platform will operate under the name Maple Aircraft Company Holdings.
“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,” says CDPQ executive vice-president Marc Cormier.
CDPQ, based in Quebec, has a portfolio which covers a range of sectors including real estate, infrastructure and technology.
It says SMBC Aviation Capital has a “successful track record” and demonstrated a “commitment” to sustainable air transport.
SMBC Aviation Capital, based in Ireland, will source transactions and act as servicer to the platform.
It says CDPQ is an “experienced” and “well-respected” investment group which is “aligned with our views” on capital allocation and sustainability, says chief executive Peter Barrett.
SMBC has a portfolio of over 900 aircraft, primarily in the single-aisle sector, with types such as the Airbus A320neo family and Boeing 737 Max, but it also serves the long-haul market with A350s and 787s.
