PGGM to acquire a 25% stake in Macquarie AirFinance.

PGGM, the second largest pension fund in the Netherlands, agreed to acquire a 25% stake in Macquarie AirFinance, a player in the aircraft operating lease industry. Financial terms were not disclosed. "We are very pleased to establish this long-term partnership with Macquarie in this new sector. Macquarie AirFinance is managed by a team of seasoned professionals, who have a proven track record in the aircraft leasing industry. We will look to grow the Macquarie AirFinance business, and continue to support the company’s strategy," Erik van de Brake, PGGM head of Infrastructure.