LCI, Thora Capital and Rive Private Investment co-invest $100m
Helicopter lessor LCI, asset manager Thora Capital and private equity firm Rive Private Investment have joined together to invest in nine helicopters worth more than $100m.
“We are delighted to be working with Thora Capital, LLC and RIVE Private Investment. This transaction will support the continued growth of our helicopter lease portfolio bringing in new sources of co-equity and finance partners,” said Crispin Maunder, Executive Chairman of LCI
LCI will be servicer for the six Leonardo AW139s and three Airbus H130 helicopters. All of which are debt financed.
“LCI’s proven track record as a helicopter lessor is greatly respected by the financial community, making it a strong partner for RIVE Private Investment to expand our investment footprint outside Europe,” says Camille Brunel, Partner at RIVE Private Investment. “After years of investing in this asset class and developing in-house expertise, we think helicopters are a very resilient and attractive asset class as long as you can rely on a strong technical knowledge (internal and with partners) and have a careful financial approach.”
LCI closed its first co-investment vehicle in 2019 with Flexam Tangible Asset Income Fund which owns three Leonardo AW139s and two Sikorsky S-92s.
Russell Christopher at Thora, said: “Helicopters have only recently been considered an asset class with potential by the investment community, which has limited the amount of capital available for operators to efficiently manage their balance sheet and optimize the mix of owned versus leased assets. We have long been impressed by the deep experience of LCI’s leasing platform, sound and diversified portfolio, supported by unrivalled operational and technical expertise.”
LCI’s portfolio now comprises some $1bn of helicopters – including orders and helicopters under management.”