Sovereign wealth fund based in Singapore, GIC, buys 30% of BBAM, one of the world’s largest manager of investments in leased commercial jet aircraft. GIC bought the stake from BBAM management team and private equity firm Onex Group.
After this transaction, all three shareholders will hold a minority stake in BBAM. GIC had committed investment to Incline Aviation, the aircraft leasing industry’s largest institutional fund that is managed by BBAM, earlier this year. According to Arjun Khullar, GIC head of integrated strategies, BBAM is a remarkable platform built with Nomura Babcock & Brown that took 30 years to build. He added that since GIC is a long term investor, it aims for strong growth potential and the aircraft leasing sector is predicted to strongly grow providing a unique opportunity for GIC. Tawfiq Popatia, managing director at Onex, added that GIC endorsement in BBAM is a strong endorsement of the BBAM business model pioneered by BBAM two decades ago.
With over $100 billion of assets in more than 40 different countries around the world, GIC is a patient long term investor. With a global presence with 10 city offices around the world, GIC is a disciplined long term investor. It has a broad- based portfolio across six core asset classes and it employs over 1300 experienced employees.
Managing its own capital, Onex Corporation employs an active approach to build industry leading business. It invests in private equity and credit. Founded in 1984, Onex has $24 billion of assets under management, including $7 billion of Onex’s capital.