MEDIA RELEASE PR38946
Jackson Square Aviation Launches With $500 Million Equity Commitment
SAN FRANCISCO, Mar. 30 /PRNewswire-AsiaNet/ --
Jackson Square Aviation is pleased to announce its formation along with a $500
million equity commitment to its parent company (JSA International Holdings, L.P.)
from investment funds managed by Oaktree Capital Management, L.P. Led by the seasoned
aircraft leasing trio of Richard Wiley, Toby Bright and Scott Weiss, Jackson Square
aims to become the leading provider of lease capital to passenger and cargo airlines
around the world. The management team, which previously headed Pegasus Aviation and
Sky Holding, has invested with Oaktree since the mid-1990s and has already begun
deploying much-needed capital into the airline sector.
"We had announced in December that Sky is partnering with Oaktree, and
we're excited to launch the new Jackson Square brand to the marketplace,"
said Richard Wiley, Jackson Square's President and CEO. "We have ambitious
growth plans over the next couple of years, and with $500 million in support
from Oaktree we are well positioned to serve our customers by financing over
$2 billion of Boeing and Airbus aircraft annually. Jackson Square's emphasis
is on sale/leasebacks of next-generation technology, to all of the world's
leading airlines. Sky will continue to run its existing businesses
separately, primarily the management of a large mid-life aircraft fleet."
Jackson Square has already entered transactions with two of its
customers, Avianca and Air Berlin, for sale/leasebacks of 10 B737NG and A320
family aircraft. These transactions demonstrate Jackson Square's commitment
to growth in a challenging environment. "We've begun acquiring aircraft just
at the point when our customers need lease capital the most," said Toby
Bright, Jackson Square's Head of Marketing. "In this environment, we bring
tremendous value in the form of our industry reach, expertise, flexibility
and strong financial backing."
Jackson Square Aviation is located in the Jackson Square Historic
District of San Francisco, adjacent to the city's financial center and home
to an eclectic mix of shops, galleries and restaurants. "It's a great home
for us," notes Scott Weiss, Jackson Square's COO and Head of Capital Markets.
"The Jackson Square district reflects much of our firm's personality: in our
capital-intensive, big-ticket industry we strive to maintain our
entrepreneurial spirit and down-to-earth approach to customer service."
About Jackson Square Aviation, LLC: Jackson Square is a full-service
aircraft leasing company based in San Francisco with offices in Seattle,
Miami, and Buenos Aires, with European and Asian offices opening in 2010. The
management team, which had previously worked together at Pegasus Aviation and
Sky Holding, has over 100 years of combined industry experience. The team has
collectively acquired over $10 billion of aircraft, has purchased and/or
remarketed over 400 aircraft, and has developed relationships with over 30
commercial lenders and investment banks across Europe, Asia and North
America.
About Oaktree Capital Management, L.P.: Oaktree is a premier global
alternative and non-traditional investment manager with approximately $73
billion in assets under management as of December 31, 2009. The firm
emphasizes an opportunistic, value-oriented and risk-controlled approach to
investments in specialized private equity (including power infrastructure),
distressed debt, high yield and convertible bonds, real estate, emerging
market, and mezzanine finance. Oaktree was founded in 1995 by a group of
principals who have worked together since the mid-1980s. Headquartered in Los
Angeles, the firm today has approximately 600 employees and offices in 14
cities worldwide.
SOURCE: Jackson Square Aviation
CONTACT: Jackson Square Aviation, LLC,
+1-415-655-5000,
info@jacksonsquareaviation.com
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