Global law firm Norton Rose Fulbright has advised PGGM Infrastructure Fund (PGGM), a leading Dutch pension investor, on its acquisition of a 25% interest in Australia’s Macquarie AirFinance (MAF).
Macquarie AirFinance provides aircraft leasing services, offering capital to the world’s airlines and advisory management services to aircraft owners. The company also owns, manages, and leases jet aircraft internationally.
The investment is PGGM’s first in the aircraft leasing sector and underscores its long-term growth strategy. Closing of the deal is subject to regulatory approvals.
Alan Bainbridge, Norton Rose Fulbright’s London-based corporate partner who led the deal, commented:
“Aviation finance is a compelling proposition for institutional investors, and demand for financing in this space remains high. Through this acquisition, PGGM will be able to tap into a stable return for its clients, including the Stichting Pensioenfonds Zorg en Welzijn, the second-largest pension fund in the Netherlands.”
The Norton Rose Fulbright team also included asset finance partner Simon Lew, and senior associates James Collins and Vanessa Brierley.
This stands as the most recent example of a number of portfolio sales and acquisitions the firm has acted on involving aviation, rail and shipping assets. These transactions reflect its experience in advising on high-level and complex cross-border assignments for banks in the transport sector.
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