Oaktree exits aircraft leasing firm to Japan’s Mitsubishi UFJ

The deal, which involves the sale of Jackson Square's parent JSA International Holdings, will be completed in December, and will add around 70 planes to Tokyo-based Mitsubishi UFJ's commercial-aircraft fleet.

San Francisco-based Jackson Square owns 76 planes, which have a combined valuation of more than $4 billion.

JSA International was valued at approximately $82 million in cash and around $3.1 billion in assets as of August. The company boasted consolidated sales of $148.4 million in 2011, alongside a net income of $25.2 million.

In addition to Oaktree, real estate investment firm SHC Prime is also selling its stake in the company, as are a number of individual investors, to give Mitsubishi UFJ a 100% stake in JSA.

Mitsubishi UFJ is no stranger to buying stakes in companies based overseas. Last December, the Tokyo-listed firm snapped up a 15% stake in Australian fund manager AMP Capital Investors for A$425 million (then $433.5 million), giving it exposure to the Australian investment market.

In January, two other Japanese players, Sumitomo Mitsui Financial Group (SMFG) and Sumitomo Corp, agreed to purchase Royal Bank of Scotland's (RBS) aircraft-leasing business in a deal worth $7.3 billion. SMFG will take around 70% of RBS Aviation Capital, with trading company Sumitomo holding the rest.

The Japanese team narrowly beat out China Development Bank, while Wells Fargo and a group led by Australia's Macquarie were also reportedly interested in the asset.

 

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• Topics
• North Asia
• Industrials
• Exits
• Oaktree Capital
• Japan
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