Fexco make moves into aviation

KILLORGLIN-BASED financial services firm Fexco has announced that it is planning to expand its interests into the aircraft leasing sector.

Last week Fexco Group – which is Ireland’s largest privately owned financial services company – announced that it is set to back aircraft leasing and asset management company Airborne Capital.

Airborne Capital has plans to grow the business to have aircraft asset under management of over US$5bn within the next five years.

Fexco is reported to be taking a substantial stake in the business, which will be headquartered in the Republic of Ireland and have an office in London.

The breakdown of the shareholding between the various investors in the business is not known but it is understood to be a joint venture with Fexco and Airborne Capital.

Airborne Capital says that it plans to act as a bridge between investors seeking bespoke investment solutions in the aviation space, and issuers requiring aviation financing via differentiated capital solutions.

“We are very excited to launch this venture with the strong support of Fexco,” said CEO of Airborne Ramkki Sundaram.

The team at Airborne Capital has rich experience in setting up and managing innovative investment and fund platforms for investors globally who are looking to deploy capital in aviation,” Mr Sundaram said.

Previously Mr Sundaram, who has over 20 years’ experience working in aviation finance, was previously Head of Aviation at Natixis, one of the leading banks in aviation financing.

Fexco has identified financial services for aviation assets as an attractive long-term investment opportunity for the group and this has underpinned its decision to invest in Airborne Capital.

“With the financial support we can provide and the industry expertise of the team we believe this business can grow rapidly to play a major role in the market segments it is targeting,” Denis McCarthy, CEO of Fexco said.

Mr McCarthy said Fexco is looking forward to “broadening its presence in this dynamic sector of the financial services market”.

Airborne Capital’s experienced team also includes as founding partners Cian Dooley, who has over 25 years of diverse aviation experience ranging from aircraft manufacturers, aircraft lessors right from initiation, aviation financing banks and specialist aviation funds, Anand Ramachandran who joins from the aircraft leasing firm Goshawk where he held the role of CFO.

While Jocelyn Noel joins from Natixis where he led the aviation syndication to banks and institutions.

Aviation is a new departure for Fexco, which is best known for its online and highstreet foreign-exchange business whihc has operations in 29 different countries and a large number of multinational clients.

Ireland is a leading centre for aircraft leasing and aviation finance, with most of the industry’s major players, including Avolon, Aercap, SMBC and GECAS, based here.