ATL Partners is partnering with Public Sector Pension Investment Board to form Sky Leasing, a company that will provide sale-leaseback financing.
Sky, headquartered in Dublin, Ireland, with operations in San Francisco, has $250 million of initial equity capital to provide the financing to commercial airlines looking to lease young mid-life Boeing and Airbus planes. Sky will also act as services to 54 aircraft on behalf of three securitizations.
To execute the transaction, Sky will acquire assets of Sky Holding Co., a business controlled by leasing industry executive Richard Wiley, who will be Sky's CEO. Wiley has also worked with Jackson Square Aviation, also an aircraft leasing company, and Pegasus airlines.
ATL Partners is a New York-based private equity firm that invests in preferred securities or debt in the aerospace, transportation and logistics sectors, primarily in North America.
The Public Sector Pension Investment Board is a Canadian pension investment manager that has $112 billion in assets under management.