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PRINT THIS PAGE Terra Firma buys Pegasus Aviation Finance Company for $5.2bn11/05/2007. Source: AltAssets. 
 Terra Firma's aircraft leasing platform AWAS has acquired San Francisco-headquartered Pegasus Aviation Finance Company from Oaktree Capital Management and Pegasus management for $5.2bn. Pegasus provides capital to airlines for new deliveries and fleet management solutions.
Since 2004 Pegasus has built a business of 82 owned aircraft, 94 managed aircraft, and a pipeline of 37 aircraft on forward orders. The aggregate appraised value of Pegasus' owned fleet and forward order pipeline is over $5bn.
Terra Firma acquired Dublin, Ireland-headquartered AWAS in March 2006. The company has been positioned to be Terra Firma's growth platform in the sector.
Guy Hands, chief executive of Terra Firma, said, 'The purchase of Pegasus builds on our initial AWAS acquisition, and will significantly strengthen our worldwide position within the aircraft leasing sector, by broadening our customer and supplier base. The acquisition will allow the combined company to take advantage of significant benefits from increased scale as well as to capitalise further on the attractive outlook for the sector.'
Terra Firma recently lost out in the battle for Alliance Boots.
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