Debevoise & Plimpton LLP is advising Pacific Life Insurance Company (Pacific Life) and Aviation Capital Group (ACG), Pacific Life’s wholly-owned commercial aircraft leasing subsidiary, in their agreement with Tokyo Century Corporation (TC) that will result in TC acquiring a 20 percent membership interest in ACG. Per the terms of the deal, TC has also agreed to provide significant additional capital to ACG to help accelerate its business expansion. Pacific Life will retain a controlling interest in ACG.
Offering insurance since 1868, Pacific Life provides a wide range of insurance products, annuities, and mutual funds, and offers a variety of investment products and services to individuals, businesses, and pension plans. Pacific Life counts more than half of the 100 largest U.S. companies as its clients.
Aviation Capital Group is one of the world’s premier full service aircraft asset managers with 441 owned, managed and committed aircraft as of June 30, 2017, which are leased to approximately 95 airlines in approximately 40 countries. ACG was founded in 1989 and is an indirect wholly-owned subsidiary of Pacific Life Insurance Company.
The Debevoise team is led by partner Gregory V. Gooding and included partners Lawrence K. Cagney, Peter A. Furci and Henry Lebowitz and associates Benjamin Collins-Wood, David Iozzi, Lunar Mai, Andrea Pomana, Lena E. Smith and Wendy D. Widman.
Debevoise & Plimpton LLP is a premier law firm with market-leading practices, a global perspective and strong New York roots. We deliver effective solutions to our clients’ most important legal challenges.