<article>Singapore&#8217;s sovereign wealth fund <a href="https://www.dealstreetasia.com/?s=GIC">GIC</a> has picked up a significant minority stake in Denmark-based regional aircraft leasing firm <a href="https://www.dealstreetasia.com/?s=Nordic%20Aviation Capital">Nordic Aviation Capital</a> (NAC), per a statement by the latter.</article>

Singapore&#8217;s sovereign wealth fund <a href="https://www.dealstreetasia.com/?s=GIC">GIC</a> has picked up a significant minority stake in Denmark-based regional aircraft leasing firm <a href="https://www.dealstreetasia.com/?s=Nordic%20Aviation Capital">Nordic Aviation Capital</a> (NAC), per a statement by the latter.
NAC said GIC&#8217;s investment will comprise a partial sale by the existing shareholders and infusion of new capital.
Financial details of the investment were not disclosed. Once the transaction is completed, GIC will join NAC founder Martin Moller and Stockholm-based investment firm <a href="https://www.dealstreetasia.com/?s=EQT%20VI">EQT VI</a> as investors in the company. EQT VI will remain the largest shareholder in NAC while Moller will continue as its chairman.
&#8220;Bringing in a new investor is a step further on the journey of consolidating NAC’s position as the world’s leading and preferred regional lessor of choice for our customers, OEMs, capital markets investors and our dedicated employees. Partnering with GIC will further strengthen our company&#8217;s commercial and financial position,&#8221; NAC chief executive Søren Overgaard said.
Founded in 1990, NAC leases its aircraft to 73 airlines, including British Airways, Air Canada, Lufthansa, Alitalia, Garuda, Flybe, Aeroméxico and airBaltic as well as regional carriers such as Air Nostrum and Widerøe.
The company is also the largest owner and lessor of both ATR and Bombardier aircraft in the world, with a current fleet of 468 owned and managed aircraft. In the financial year ending 30 June 2018, NAC generated a business performance result of $160 million.
“NAC has a strong track record of growth and market leadership in a segment with secular growth drivers. As a long-term investor, we look forward to partnering with Martin Møller and EQT and supporting the future growth of the company,&#8221; said Choo Yong Cheen, Chief Investment Officer of Private Equity at GIC.
GIC&#8217;s investment in NAC is not the first for the Singapore wealth fund in the aircraft leasing industry. In September 2017, it bought a 30 per cent stake in <a href="https://www.dealstreetasia.com/?s=BBAM">BBAM</a>, the world&#8217;s largest manager of investments in leased commercial jets.
Last month, GIC was reported to have expressed interest in buying General Electric Co&#8217;s plane-leasing unit, <a href="https://www.dealstreetasia.com/?s=GE%20Capital Aviation Services">GE Capital Aviation Services</a>.
The wealth fund has listed a portfolio of private equity interests on the secondary market recently, according to reports.
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<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/ges-jet-leasing-unit-said-to-draw-sale-interest-from-singapores-gic-106509/">GE’s jet-leasing unit said to draw sale interest from Singapore’s GIC</a>

GIC will join Nordic Aviation Capital founder Martin Moller and Stockholm-based investment firm EQT as investors in the company.

Singapore's GIC buys significant minority stake in Nordic Aviation

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