Perella Weinberg launches Lobo Leasing
June 3, 2011 By Carey Fredericks
June 3, 2011, New York, N.Y. - Perella Weinberg Partners today announced that certain funds within Perella Weinberg Partners’ Asset Based Value strategy have teamed with helicopter industry veterans Howard Wolf, Bill Wolf, Bruce Mauldin and John Contas to form Lobo Leasing, LLC, a joint venture to acquire helicopter and helicopter-related assets for lease to operators.
Lobo Leasing will serve as a global specialty finance company focused on the helicopter aircraft markets. It will be operated and managed by a seasoned management team experienced in helicopter finance, operations and government contracting. The company will provide aircraft operators and owners with much needed customized financing options and will serve as a direct source of capital to domestic and international operators in need of rotary-wing aircraft. Lobo Leasing will enable clients to maximize the efficiency of their capital and enhance opportunities for operators to compete for lucrative contracts.
Lobo Leasing will offer 100% lease financing on pre-owned, new and sale-leaseback transactions. It is expected that operators will select their own rotary-wing aircraft or work with Lobo to source mission appropriate helicopters. Lobo Leasing will purchase the rotary-wing aircraft and enter into a lease agreement with the customer who will then operate the leased rotary-wing aircraft and assume responsibility for all operating costs.
Bill Wolf, President and CEO of Lobo Leasing stated, “This joint venture pairs Perella Weinberg Partners’ Asset Based Value strategy’s institutional strength and relationships with the management team’s market presence and industry expertise to serve the capital intensive helicopter market. We are pleased to establish this business relationship with such an impressive and experienced team of investment professionals.”
Perella Weinberg Partners’ Asset Based Value strategy is a leading post-financial crisis provider of U.S. specialty finance solutions. Since inception in 2008, the strategy has grown to manage in excess of $1 billion in equity capital through a number of different investment vehicles. It can deliver significant capital, technical expertise and infrastructure in a wide range of asset classes and structures, including both real and financial assets. The strategy strives for diligence and to execute transactions discretely and efficiently. Capital for the strategy is contributed by, among others, a diversified group of institutional investors who seek to invest in compelling opportunities at favorable valuations.