LCI Helicopters to Manage New Fleet for SQN Capital Management
04 March 2015
LCI Helicopters has entered into an agreement with SQN Capital Management, LLC (SQN), an independent asset manager headquartered in New York City, to manage a fleet of seven recently acquired helicopters.
LCI Helicopters, the helicopter leasing arm of the Libra Group, will offer a range of services to SQN including asset management, insurance, rent collection, maintenance oversight, inspections, and remarketing services.
Mike Platt, CEO of LCI, says: “We are very pleased to have the opportunity to offer SQN Capital Management the same high quality professional management services to manage their fleet as we employ for our own.”
SQN is also a registered investment advisor to institutional investors, specialising in alternative asset management. It provides investment advisory and portfolio management services to multiple private offerings, public direct participation programs, and a fund listed on the Main Market of the London Stock Exchange.
Michael Miroshnikov, Executive Vice President of SQN Capital, added: “LCI is a well-respected proven leader in aircraft asset management and we are pleased to place our assets in their capable hands to maintain and enhance the value of our fleet.”
LCI’s helicopter division comprises a fleet of 90 delivered and ordered helicopters, including the market-leading AgustaWestland AW139 and AW189 helicopters, and will shortly be the launch customer for the new AW169. LCI is also the lead lessor for the Airbus Helicopters EC175 and the recently announced Airbus EC225e, for which it is the launch customer.
LCI announced almost US$1 billion in new orders at the 2014 HAI Heli-Expo and has also attracted investment of more than US$100 million from KKR Financial Holdings, LLC, to address growing oil and gas sector demand, as well as search and rescue and air ambulance services.
Since its inception in 2004, the company has acquired fixed wing and rotary aircraft with a combined value of approaching US$6 billion.