Private equity fund (PEF) manager IMM Investment will sell Crianza Aviation, an aircraft leasing portfolio company, to overseas investors. It has been a little over nine years since investing in Crianza in 2016.
According to the investment banking (IB) industry on Oct. 17, IMM Investment recently signed a stock purchase agreement (SPA) to sell 100% equity in Crianza Aviation to BC Partners, a global PEF manager, and FPG Amentum, an aircraft asset manager.
IMM Investment established Crianza Aviation in 2016 as a joint venture (JV) with overseas aircraft leasing companies. IMM Investment invested about 100 billion won in the formation and is known to have raised the funds from blind funds including "Petra No. 6."
Crianza is an aircraft finance company that buys aircraft on behalf of airlines and receives lease fees in return for lending them to carriers. Its aircraft leasing assets exceed 2 trillion won, and it owns more than 11 aircraft, including models from Airbus and Boeing.