Corrum Capital has taken an equity position in Wings Capital Partners, the company said.
Two Sigma Private Investments, Wings´ original investor, has made an additional equity investment, moves that will accelerate growth of Wings´ commercial aircraft leasing business.
Corrum Capital, an active investor in mid-life narrow-body aircraft with Wings for nearly two years, has purchased an equity position in order to expand Wings´ committed capital base and facilitate significant growth for the company. Following the sale of equity, Wings ownership will consist of Two Sigma Private Investments, Corrum Capital and the Wings management team led by R. Stephen Hannahs.
As a part of the transaction, Jason Cipriani, co-managing partner of Corrum Capital Management and J. Chandler Martin, senior advisor to Corrum Capital Management will join Wings´ board of directors along with Hannahs as well as Wray T. Thorn, chief investment officer of Two Sigma Private Investments and Mark Kleinman, operating partner from Two Sigma Private Investments.
After closing the pending acquisition of four aircraft, the total value of Wings´ aircraft portfolio will exceed USD 600 million and is projected to reach approximately USD 1 billion by year end.
Formed in 2013, Wings Capital Partners is a private company that owns and manages predominantly single-aisle, in-production commercial jet aircraft on lease to airlines around the world.
Corrum Capital Management is an independent, alternative investment firm focused on niche, cashflow oriented investments. Corrum Capital seeks to partner with experienced operators within their target markets through a variety of investment structures, including asset-backed strategies in the transportation infrastructure sector, which includes commercial aviation leasing.
Two Sigma Private Investments is the private markets investment division of Two Sigma Investments, LP. It focuses on developing and executing private investment opportunities that provide diversifying sources of return for its investors.