Milbank LLP advised leading international investment manager M&G Investments (“M&G”), part of M&G plc, on its US$300million equity investment in a new aircraft leasing fund to be serviced by SKY Leasing, a full-service aviation asset manager as well as on M&G’s acquisition of a strategic ownership interest in SKY Leasing itself to support the growth of SKY Leasing’s asset management platform in San Francisco and the launch of its Irish operations. The fund is expected to provide approximately $1 billion of capital to invest in new and current generation aircraft.
The Milbank team was led by partners Nick Swinburne (Transportation and Space) and Dean Sattler (Global Corporate) alongside partners Andrew Walker (New York Tax), Mike Shah (Executive Compensation and Employee Benefits) and Russell Jacobs (London Tax) and associates Amy Kletsel, Daniel Tyrrell, Zach Shepperd and Guilherme Maranhão (Global Corporate), Meg Dennard (Capital Markets), James Beebe and Kelly Bartley (Executive Compensation and Employee Benefits) and James Seddon (London Tax).
Lead partner Nick Swinburne said: “We are delighted to have been able to help M&G on this landmark aviation fund investment and the creation of this new partnership with SKY Leasing. This was a complex and multi-faceted transaction and once again demonstrates Milbank’s ability to combine our leading position in the aviation sector and our corporate and M&A expertise to ensure success for our clients.”