Three private equity groups have been lined up to take a stake in aviation leasing start-up Avolon for $750m, according to the Financial Times.
Irish financier Domhnal Slattery has agreed to sell the interest and has reportedly also secured a $1bn debt facility.
Private equity firms Oak Hill Partners, Cinven and CBC Capital will equally fund the company in return for a share.
Denis Nayden, a former chairman and chief executive of GE Capital and a partner at Oak Hill, will become the new chairman of Avolon, the report said.
Aviation companies are said to be struggling to buy new aircraft and are now looking at leasing options.
All three private equity groups taking a stake in Avolon have experience of investing in the aviation sector.
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