London, 07 May 2019
Macquarie Group Limited has announced that PGGM Infrastructure Fund (PGGM), a leading Dutch pension investor, will take a 25% interest in Macquarie AirFinance.
Macquarie AirFinance was established in 2006 and has evolved to become a leading and successful player in the aircraft operating lease industry, with a portfolio at March 2019 of 196 aircraft and 60 aircraft orders.
The investment is PGGM’s first in the aircraft leasing sector. PGGM has capacity to deploy additional capital to support the growth of Macquarie AirFinance.
Macquarie’s Head of Transportation Finance, Stephen Cook said: “We are delighted to have PGGM as a shareholder in Macquarie AirFinance. PGGM is a strong, long-term institutional investor and is an ideal partner for Macquarie to support our strategy for continued investment and growth in the aircraft operating lease sector. John Willingham will continue as Chief Executive Officer of the world-class Macquarie AirFinance team.”
PGGM’s head of Infrastructure, Erik van de Brake said: “We are very pleased to establish this long-term partnership with Macquarie in this new sector. Macquarie AirFinance is managed by a team of seasoned professionals, who have a proven track record in the aircraft leasing industry. We will look to grow the Macquarie AirFinance business, and continue to support the company’s strategy.”
Completion of the transaction is subject to customary closing conditions.
About PGGM Infrastructure Fund
PGGM is a cooperative Dutch pension fund service provider. Institutional clients are offered: asset management, pension fund management, policy advice and management support. On December 31, 2018 PGGM had EUR 211 billion in assets under management and was administrating pensions of 4.4 million participants. Around 750,000 workers in the Dutch healthcare are connected to PGGM&CO, our membership organization. Either alone or together with strategic partners, PGGM develops future solutions by linking together pension, care, housing and work.