LCI Launches First Helicopter Co-Investment Vehicle

Helicopter lessor LCI launched its first ever helicopter co-investment vehicle.

The new helicopter ownership vehicle contains five aircraft all on long-term lease – three Leonardo AW139 and two Sikorsky S-92 units – and is valued at over $100 million. It has been launched in partnership with Flexam Tangible Asset Income Fund (part of Flexam Invest Group), who have also contributed to the capitalization. LCI will also act as servicer for the vehicle.

Jaspal Jandu, chief financial officer of LCI, said, “LCI is delighted to lead the helicopter leasing sector in launching this new form of ownership vehicle. It enables investors to participate at a specific transaction level and we are delighted to be partnering with Flexam whose professionalism in asset financing has been instrumental in executing this transaction.

“There has been strong interest in our first co-investment vehicle and, as a helicopter lessor with a proven platform, management team and track record, we look forward to building upon similar frameworks in the future.”

Fabrice Fraikin and Florian de Sigy, both partners at Flexam Invest, said, “The helicopter leasing marketplace is a dynamic one offering many investment opportunities. LCI is a leading lessor in this space possessing unrivalled experience and breadth of knowledge. Its track record as an aviation lessor is greatly respected by the financial community, making them an ideal partner for Flexam.”

LCI first entered the helicopter leasing marketplace in 2012 with a $400 million order for a fleet of Leonardo AW139, AW169 and AW189 aircraft. It services a fleet approaching 100 aircraft in operation across four continents in multiple sectors including offshore wind, emergency medical services, search and rescue, maritime pilot transfer and offshore oil and gas. LCI’s fleet now comprises approximately $1 billion of assets in service, on order and under control.

Since 2011, Flexam Invest has structured investment solutions based on tangible assets in the rolling stock, logistics, maritime and aviation spaces, aiming at providing yield investments.

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