Ares-Backed Aircraft Leasing Firm Launches With $500 Million

Alternative asset manager Ares Management Corp. and industry veterans have launched an aircraft leasing firm aimed at profiting from opportunities in the pandemic-battered sector.

Newly-formed Vmo Aircraft Leasing is backed by $500 million in initial equity capital from funds managed by Ares and from Vmo management, according to a statement. Bob Brown, who previously headed aviation investment firm Vx Capital Partners, will start out as chief executive officer.

Sean Sullivan and Will Hudson, who both held top roles at Vx, will serve as chief commercial officer and chief operating officer, respectively, according to the statement. Over the ...