RIVE Private Investment, LXA Leasing and volofin Capital Management Ltd. close financing for 107-Asset Portfolio
London, Paris, Dublin, October 2, 2024. volofin Capital Management Ltd. (“volofin”), a London-based aircraft and engine financier, is pleased to announce the structuring and closing of a portfolio financing transaction. Acting as the sole lender and lead arranger, volofin facilitated the financing for RIVE Private Investment (“RIVE”), a European investment firm specialising in transportation assets and energy transition infrastructures, secured against a portfolio of 107 aircraft engines and APUs currently on short-term leases to a diversified group of lessees.
This transaction is a significant milestone, with volofin financing 107 assets for RIVE. The assets are managed by LXA Leasing, a specialist in engine and Auxiliary Power Unit (APU) leasing. The highly revolving nature of the portfolio, with predominantly short-term leases, necessitated a flexible and innovative financing structure that allows LXA Leasing to quickly execute leases, supporting its diverse group of lessee clients efficiently. The diversity and proven track record of the assets provide high levels of risk diversification, enabling volofin to apply a portfolio-based financing approach.
This transaction reinforces the ongoing relationship between RIVE and volofin, providing substantial capital to support the continued growth of LXA Leasing’s business. volofin’s deep industry experience and pragmatic approach to engine leasing made this a successful and pioneering financing solution for a portfolio of revolving short-term leases, structured on a non-recourse basis.
The loan is secured by assets leased to world-leading Maintenance, Repair, and Overhaul (MRO) providers, Original Equipment Manufacturers (OEMs), and global airlines. These engines play a crucial role in maintaining fleet reliability by addressing Aircraft on Ground (AOG) situations and providing short-term lift to cover maintenance work. The strong partnership between LXA Leasing, RIVE, and volofin is fundamental to this transaction.
Jan Bockelmann, Managing Director of volofin Capital Management Ltd., commented:
« We are very pleased to close this innovative and complex transaction together with RIVE and LXA Leasing. The successful track record of LXA, as well as RIVE’s position as anchor investor, is very impressive. Their deep market knowledge is invaluable, and we look forward to further strengthening this partnership in the near future. »
Bachir Lahsini, Investment Director at RIVE, commented:
« This successful transaction demonstrates the attractiveness of specialized transportation assets for investors and lenders. It is a non-conventional, but deep aviation asset class, critical for aircraft maintenance cycles, and this structured financing paves the way for new acquisitions to expand our asset portfolio. We are very happy to further develop our collaboration with volofin and to fuel LXA Leasing’s future growth. »
Jean-Christophe Normand, LXA Leasing Founding Partner and CFO:
« LXA Leasing success is based on our team’s readiness to support the spare engine and APU needs for our OEM, MRO and global airline customers. This refinancing of 107 assets of our portfolio will enable an increased level of support to our customers and to sustain the fleet growth they require for their operations. »
Seabury Securities acted as exclusive financial advisors and placement agent for RIVE Private Investment and LXA Leasing.
About volofin Capital Management Ltd.
volofin is a specialty finance and alternative asset management firm focused on delivering innovative financing and investment solutions for its commercial aviation customers and institutional clients.
About RIVE Private Investment
RIVE Private Investment is an independent European investment company specializing in transportation assets and infrastructure dedicated to energy transition. RIVE focuses on the small and mid-market and combines both financial and sectoral expertise. Founded in 2013 and headquartered in Paris, Luxembourg, and Geneva, RIVE has financed over €2.4 billion of assets through more than 100 transactions in around 20 countries.
About LXA Leasing
LXA Leasing is a specialist lessor of aircraft engines and APUs, providing leasing solutions to a global client base, including airlines, OEMs, and MROs. LXA Leasing offers highly flexible and responsive leasing services to support its clients’ short-term and long-term operational needs.
About Seabury Securities
Seabury Securities (“Seabury”) and its affiliates, headquartered in New York, with a global presence of professionals around the world, is an investment banking and consulting firm with a core focus in aviation, aerospace & defense.
Press contact:
Bénédicte Debusschere – b.debusschere@bcadvisory.fr – 06 48 56 70 71
Victoria Wojtczak – v.wojtczak@bcadvisory.fr – 06 79 75 01 66