CDPQ & GE Capital Aviation Services to Join Forces in Creating USD 2-Billion Global Aircraft Financing Platform

Montréal and Shannon, Ireland (ots/PRNewswire) -

- CDPQ to provide strategic capital over four years to create an
aircraft leasing and financing platform alongside world-class
operator GECAS

- Platform will provide GECAS with increased flexibility to
support future growth

- Investment marks new milestone in the strategic relationship
between CDPQ and GE

Caisse de dépôt et placement du Québec (CDPQ), a leading
institutional asset manager, and GE Capital Aviation Services
(GECAS), a world leading aircraft leasing company, announced today
that they have signed a commitment letter to create a USD 2-billion
global aircraft financing platform. The transaction is subject to
conditions including any required regulatory approvals.

This new platform, to be named Einn Volant Aircraft Leasing
(EVAL), will be involved in the acquisition of modern fuel efficient
aircraft from a diverse set of global airlines and in leasing them
back to such airlines under long-term leases. GECAS will source the
transactions and, under a sistership condition, will invest in
aircraft ownership opportunities alongside the platform to further
align its interests with those of EVAL. GECAS will also act as
servicer for the platform.

EVAL will provide GECAS with the flexibility to finance future
growth and opportunities, while serving as an entry point for CDPQ
into the aircraft leasing and financing industry. In addition, it
represents a key step in the expansion of the strategic relationship
between GE and CDPQ, which has been built over several years.

"This platform will provide financing solutions to airlines to
help support the growth of their fleet and answer essential industry
needs. The high-quality aircraft will be chosen for their ability to
withstand short-term cyclicality in a sector underpinned by strong
long-term growth drivers," said Michael Sabia, President and Chief
Executive Officer of CDPQ. "Through this platform, CDPQ's stable
capital and GECAS' extensive expertise and network will combine to
identify the best opportunities globally. Working with world-class
operators such as GE is a fundamental part of our investment
strategy, and this announcement is yet another example of this
strategy in action."

"This new platform will enable continued growth and development of
our global customer relationships," said Alec Burger, President and
CEO of GECAS. "We are delighted CDPQ will be our strategic partner in
this exciting venture, which is a natural expansion of the
relationship between the highly regarded pension fund manager and
GE."

Goldman Sachs & Co. LLC and Bank of America Merrill Lynch advised
GECAS on the transaction. Clifford Chance, Milbank, Tweed, Hadley &
McCloy, Torys, Walkers and Lavery provided legal advice. E&Y provided
tax advice.

ABOUT CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC

Caisse de dépôt et placement du Québec (CDPQ) is a long-term
institutional investor that manages funds primarily for public and
parapublic pension and insurance plans. As at December 31, 2016, it
held C$270.7 billion in net assets. As one of Canada's leading
institutional fund managers, CDPQ invests globally in major financial
markets, private equity, infrastructure and real estate. For more
information, visit cdpq.com (https://www.cdpq.com/en), follow us on
Twitter @LaCDPQ (https://twitter.com/laCDPQ?lang=fr) or consult our
Facebook (https://www.facebook.com/CDPQ-886100618136035/) or LinkedIn
(https://www.linkedin.com/company/cdpq) pages.

ABOUT GE CAPITAL AVIATION SERVICES

GE Capital Aviation Services (GECAS) is a world leader in aviation
leasing and financing. With 50 years of aviation finance experience,
GECAS offers a wide range of aircraft types including narrow-bodies,
wide-bodies, regional jets, turboprops, freighters and helicopters,
plus multiple financing products and services including operating
leases, purchase/leasebacks, secured debt financing, capital markets,
engine leasing, airframe parts management and airport/airline
consulting. GECAS owns or services a fleet of over 1,950 aircraft
(1,660 fixed wing/306 rotary wing) in operation or on order, plus
provides loans collateralized on an additional ~400 aircraft. GECAS
serves 264 customers in over 75 countries from a network of 26
offices.

To learn more, visit gecas.com (http://gecas.com/).

GE (NYSE: GE) is the world's Digital Industrial Company,
transforming industry with software-defined machines and solutions
that are connected, responsive and predictive. GE is organized around
a global exchange of knowledge, the 'GE Store', through which each
business shares and accesses the same technology, markets, structure
and intellect. Each invention further fuels innovation and
application across our industrial sectors. With people, services,
technology and scale, GE delivers better outcomes for customers by
speaking the language of industry.

To learn more, visit ge.com (http://www.ge.com/).

Media contacts:

Maxime Chagnon

Senior Director

Media and Public Relations

+1-514-847-5493

mchagnon@cdpq.com

James Luton

Global Communications Leader

+1-203-842-5887

james.luton@gecas.com

ots Originaltext: Caisse de dépôt et placement du Québec
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