LCI and LCM Partners launch co-investment vehicle


LCI has launched a new helicopter co-investment vehicle with alternative investment firm LCM Partners.

“Our new partnership with LCM is the latest example of how LCI is consistently bringing capital to the helicopter marketplace, building the sector’s reputation and robust links with the financial services industry,” said Praveen Vetrivel, chief financial officer, LCI.

LCM manages over €50bn ($59bn) across more than 2,800 portfolios. Asset finance accounts for 10% of its portfolio behind unsecured loans (45%), credit cards (20%) and mortgages (20%). It typically invests between €5m ($5.9m) and €75m ($87m).

“LCI is a proven lessor, respected by the financial community for sound and efficient asset management, deep sector experience and reliable returns,” says Graeme Laing, head of Asset Finance at LCM Partners. “We look forward to combining our respective expertise in the management and growth of this successful and dynamic joint venture.”

The vehicle has been launched with two Leonardo AW109SP helicopters used for emergency medical services in the UK. These are LCI’s first AW109 helicopters. They are leased in EMS configurations to Sloane Helicopters a new customer for LCI.

Vetrivel added: “The establishment of our new investment vehicle with LCM Partners, one of Europe’s leading alternatives investment management firms, is further evidence that helicopters are viewed as a resilient, long-term and desirable asset class.”

LCI launched its first co-investment vehicle in 2019 with Flexam Tangible Asset Income Fund and closed a second one in May 2020 with Thora Capital and RIVE Private Investment. In September 2020 it announced a $230m joint venture with Sumitomo Mitsui.