SKY Leasing LLC has closed its flagship fund, SKY Fund VI, L.P., with more than $1.35 billion in capital commitments—well above its original target.
The San Francisco-based alternative investment manager, which specializes in aviation assets, said the fund drew support from a wide range of global institutional investors, including insurance companies, sovereign wealth funds, pensions, endowments, foundations and family offices.
SKY Fund VI, including its parallel fund, will focus on providing capital to airlines through sale-leaseback transactions involving new and current technology aircraft. The fund has already committed over $600 million to acquire a fleet of 62 aircraft.
“The capital raised for SFVI is a testament to the strong institutional investor demand for SKY’s unique approach to origination and portfolio construction,” said CEO Austin Wiley in a statement. “Our global airline partners increasingly seek capital to transition their fleets from current to new technology aircraft.”
SKY Leasing manages over $5 billion in aviation assets and operates out of five offices in San Francisco, Dublin, New York, Miami and Singapore. The firm’s fund management business began in 2019 with a minority investment from M&G Investments.
Eaton Partners served as the exclusive global placement agent for the fund. Legal counsel was provided by Kirkland & Ellis LLP.
