Stephen Hannahs, cofounder and former chief executive of Newport Beach-based Aviation Capital Group, partnered with a New York investment firm to launch Wings Capital Partners, a boutique investment firm.
Wings Capital will focus on advisory and financing services and aircraft purchases, according to the firm.
Hannahs said the partnership with Two Sigma Private Investments is expected to bring the new venture “a unique form of flexible capital.”
Hannahs in 1989 cofounded Aviation Capital, which eventually became a wholly owned subsidiary of Pacific Mutual Holding Co. in Newport Beach. Pacific Mutual operates through its Pacific Life Insurance Co. unit and is the largest private company based in Orange County, with $7.25 billion in 2012 revenue.
Hannahs oversaw Aviation Capital as chief executive since its inception through the end of last year, when he retired. The company is one of the largest aircraft lessors in the world, with about $8 billion in assets, a portfolio of more than 250 airplanes and about 90 airlines as customers.
Hannahs remains on Aviation Capital’s board of directors.
—Jane Yu
