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Clifford Chance advises on establishment of the SMBC Aviation Capital backed Global Aviation Equipment Leasing Fund ("GAEL")

12 August 2019

Clifford Chance advises on establishment of the SMBC Aviation Capital backed Global Aviation Equipment Leasing Fund ("GAEL")

Leading international law firm Clifford Chance has advised on the establishment of the Global Aviation Equipment Leasing Fund ("GAEL"). SMBC Aviation Capital ("SMBC AC"), one of the world's leading aircraft lessors, will act as servicer in respect of GAEL and its investments.

GAEL is a closed-end fund that has raised equity capital from 17 Japanese institutional investors, offering the investors a bespoke opportunity to enter into the aircraft leasing market. Clifford Chance also advised on the debt financing secured from an internationally recognised bank and is assisting with the transfer and novation of a portfolio of aircraft – on lease to a range of international airlines – from SMBC AC to the GAEL fund.

The transaction follows the recent success of the firm's Global Asset Finance Group, which in July was awarded first place in the Airfinance Journal Legal Survey for score and number of deals completed for the seventh consecutive year.

The London-based, cross-practice Clifford Chance team was led by Funds partner Gerard Saviola and Asset Finance partner Paul Carrington, with support from Stephanie Dunne, Louis de Crayencour and Camilla Blower (London, Funds) and from Ryan Wild and Andrew McAdam (London, Asset Finance).