WNG Capital has announced the final closing of WNG Aircraft Opportunities Fund II with $438 million of capital commitments.
The WNG II fund is expected to acquire approximately 40 to 60 Boeing and Airbus narrow body aircraft with ages ranging from 15 to 20+ years and remaining lease terms of 12 to 48 months.
“WNG II was oversubscribed with demand exceeding the fundraising target of $300 million. We secured commitments from a sophisticated group of US institutional investors, including public and corporate pension plans, endowments, foundations, and family offices,” said Michael Gangemi, co-managing partner of WNG Capital. “We are gratified by the response to our WNG II fundraise.
"The strong demand in a competitive market illustrates the value proposition of WNG’s differentiated approach as we seek to generate attractive returns for our investors through active management of narrow body aircraft on shorter leases. We view our investors as partners in our business and want to thank them for their trust and confidence.”