Avolon, Wells Fargo form aircraft leasing JV

Irish lessor Avolon will form a joint venture (JV) with Wells Fargo to operate an aircraft leasing business, named Avolon Capital Partners (ACP). The JV will be headquartered in Dublin. ACP will start with an initial target portfolio size of $500 million and will focus on young, fuel-efficient single- and twin-aisle aircraft. Its management team will consist of existing Avolon and Wells Fargo employees. Wells Fargo will be the majority shareholder and Avolon executive Daire ...