NEWPORT BEACH, Calif. (September 28, 2017) – Aviation Capital Group LLC (“ACG”) announced today that its parent company, Pacific Life Insurance Company, has entered into an agreement with Tokyo Century Corporation (TC), that results in an investment by TC for a 20 percent membership interest in ACG.
In addition to this initial investment, TC has agreed to provide additional capital to ACG to help accelerate ACG’s business expansion and create incremental business opportunities. Pacific Life will retain a controlling interest in ACG.
“We are very happy to add an experienced investor in Tokyo Century as a minority shareholder who recognizes the value of the ACG platform and is committed to ACG’s growth,” said Khanh T. Tran, ACG’s CEO.
The transaction is expected to close in the fourth quarter of 2017.
TC is publicly-held and listed on the Tokyo Stock Exchange. Its core lines of business include equipment leasing, specialty financing, domestic automobile financing, and international business with a global network in 37 countries. TC’s aircraft financing operation currently owns 48 aircraft. More information can be found at: www.tokyocentury.co.jp/en/.
About Aviation Capital Group
Aviation Capital Group is one of the world’s premier full service aircraft asset managers with 441 owned, managed and committed aircraft as of June 30, 2017, which are leased to approximately 95 airlines in approximately 40 countries. ACG was founded in 1989 and is an indirect wholly-owned subsidiary of Pacific Life Insurance Company.
About Pacific Life
Offering insurance since 1868, Pacific Life provides a wide range of insurance products, annuities, and mutual funds, and offers a variety of investment products and services to individuals, businesses, and pension plans. Pacific Life counts more than half of the 100 largest U.S. companies as its clients. For additional company information, including current financial strength ratings, visit www.PacificLife.com
Pacific Life refers to Pacific Life Insurance Company and its affiliates, including Pacific Life & Annuity Company. Client count as of June 2017 is compiled by Pacific Life using the 2017 FORTUNE 500® list.