3-Jun-2011 Source: Lobo Leasing
Perella Weinberg Partners today announced that certain funds within Perella Weinberg Partnersâ€™ 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, â€œThis joint venture pairs Perella Weinberg Partnersâ€™ Asset Based Value strategyâ€™s institutional strength and relationships with the management teamâ€™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.â€
Perella Weinberg Partnersâ€™ 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.
About Lobo Leasing
Lobo Leasing, LLC, based in Austin, TX, is a helicopter leasing company serving the international helicopter industry. Lobo Leasing is a hard-asset manager specializing in providing equipment leasing and capital solutions to the global helicopter sector.Â The management team, which is comprised of Howard Wolf, Bill Wolf, Bruce Mauldin and John Contas, has extensive experience in the helicopter industry and individually are specialists in financing, full service leasing, helicopters asset management aircraft sales and strategic planning. Lobo has personnel based in Austin, Dallas, New York and the Boston area. Additional information can be found at www.loboleasing.com
About Perella Weinberg Partners
Perella Weinberg Partners is a leading independent, client-focused financial services firm that provides corporate advisory and asset management services to clients around the world. Launched in 2006, the Firm is a private limited partnership with approximately 340 employees recruited from a wide variety of leading financial institutions. With over 100 employees, the firmâ€™s asset management activities include a suite of hedge fund strategies, private capital and a multi-manager business. Investments made through these strategies include most major asset classes on a global basis, including equities, fixed income, asset based securities, distressed securities, private investments and real estate. The global asset management business, including affiliates, has capital commitments and managed assets of approximately $7.9 billion. The corporate advisory business provides high quality, independent advice and transaction execution capabilities, including mergers and acquisitions, exclusive sales, defense advisory, financial restructuring, private capital and pension advisory. The firm has offices in New York, London, Abu Dhabi, Denver, Austin and San Francisco. Biographies and additional information are available at www.pwpartners.com