GIC to Invest in BBAM through acquisition of significant minority Interest

GIC, the Singaporean sovereign wealth fund, agreed (05-Sep-2017) to acquire a 30% interest in BBAM. The transaction is expected to close by 30-Sep-2017, subject to certain conditions and approvals. GIC will acquire its interest in BBAM through partial sales by the company's two existing shareholders, BBAM's management team and the Onex Group. Following the transaction, all three parties will assume minority joint ownership of the company. The investment follows a commitment by GIC earlier in 2017 to Incline Aviation, the aircraft leasing industry's largest institutional fund, which is managed by BBAM. GIC Head of Integrated Strategies Group Arjun Khullar said BBAM is a "remarkable platform" built on a 30 year JV with Nomura Babcock & Brown. GIC is a "long-term investor", which believes BBAM "is a unique opportunity to invest in the aircraft leasing sector which has strong growth potential". [more - original PR]