Sector developments and company hires

Aircraft equity investment
Floreat has disclosed that it invested US$25m in the equity certificates of Air Lease Corporation’s recent Thunderbolt III aircraft ABS. The securitisation is secured by a portfolio of 19 commercial aircraft on operating lease to 18 airlines in 15 countries. The airlines are diversified globally and over half are national flag carriers, including Vueling, Air France, China Airlines and Aerolineas Argentinas. The structure includes two series of fixed rate notes, as well as equity certificates. Mizuho Securities USA acted as global coordinator and joint lead structuring agent and bookrunner on the deal.

Legal moves
Carey Olsen Bermuda has named Michael Frith senior counsel - md within its corporate practice. Formerly a director of Conyers, he specialises in all aspects of Bermuda corporate law, with a particular focus on insurance/reinsurance regulatory and transactional matters, including ILS.

Together Financial Services has recruited Sam Krivinskas as senior legal counsel - treasury, initially based in London before relocating to the group’s head office in Cheadle, Cheshire. Krivinskas joins from Credit Agricole, where she was senior legal counsel and director in the structured products and derivatives legal group. Prior to this, she was vp in Credit Suisse’s structured financing and securities legal team.