NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Wings Capital Partners announced today the acquisition of nine commercial jet aircraft.
All of these aircraft either have been or will be acquired with the equity support of Two Sigma Private Investments, WCP’s founding investor, and investment funds managed by Corrum Capital Management LLC, a new investor for Wings Capital Partners.
Debt financing is provided by a $275 million secured loan facility arranged by Crédit Agricole Corporate and Investment Bank for eight aircraft and a secured term loan provided by DVB Bank SE for one aircraft.
“We at Wings Capital Partners are very pleased to welcome Corrum Capital Management as investors in Wings Capital Partners and to bring these aircraft into our portfolio which now stands at approximately $500 million in assets,” says R. Stephen Hannahs, Managing Director and CEO. “Expanding our investor base, renewing our long-standing personal relationships with leading aviation banks Crédit Agricole and DVB Bank, and executing on these aircraft acquisitions, demonstrates the access, experience and capabilities our team brings to our business and the execution of our strategy.”
About Wings Capital Partners
Founded in 2013 by R. Stephen Hannahs and Two Sigma Private Investments, Wings Capital Partners makes targeted, non-passive equity investments in commercial aircraft, related assets and aviation companies, with a focus on narrow body commercial jet aircraft.
About Two Sigma Private Investments
Two Sigma Private Investments (“TSPI”) is the private markets investment division of Two Sigma Investments, LP (“Two Sigma”). TSPI focuses on developing and executing private investment opportunities that provide diversifying sources of return for its investors. Investing largely on behalf of the proprietary capital of Two Sigma, TSPI employs a principal mindset, using its flexible capital base to create investment opportunities with the potential for asymmetric risk-rewards. TSPI has developed particular expertise in building business platforms with experienced operators and strategic partners across several industries including financial services, transportation and resources. The TSPI team is comprised of professionals with significant institutional private investment experience who also benefit from the strength of the Two Sigma platform. For more information please visit www.twosigmapi.com.
About Corrum Capital Management
Corrum Capital is an independent, alternative investment firm focused on investments in credit, private real assets, and other private equity strategies. The firm was founded in 2012 and manages investments on behalf of institutions, family offices and high net worth individuals.