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MCAP quietly approaching buyers

Japanese lessor MC Aviation Partners is running a quiet sale process for its owned aircraft fleet, sources tell FlightGlobal.

FlightGlobal understands that the process to sell the Tokyo-based Mitsubishi subsidiary's portfolio began earlier this year, but no buyer has been selected.

Among the potential bidders are Hudson Structured Capital Management – seeded by Blackstone – and Hong Kong billionaire Li Ka Shing's Cheung Kong Property Management.

Cheung Kong Property Holdings and Li Ka Shing (Overseas) Foundation are partners to MCAP in joint venture Vermillion.

MCAP's portfolio comprises nearly 80 aircraft. The majority of these are owned by different investors, including 21 owned by Vermillion, Flight Fleets Analyzer shows.

Sources indicate that there are "around 30 aircraft" in the portfolio for sale.

While MCAP is seeking to take exposure off the balance sheet, it is not clear whether the lessor is looking to completely withdraw from aviation by also exiting the asset management business.

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