The Caisse de dépôt et placement du Québec (CDPQ) has partnered with Ireland-based SMBC Aviation Capital, the world’s second-largest aircraft leasing company, to create a $2 billion (US$1.5 billion) platform for financing and leasing airplanes. The platform will operate under the name Maple Aircraft Company Holdings Ltd.

The two companies plan to deploy US$500 million annually over the next three years. The CDPQ will provide most of the capital to help SMBC build up its fleet of the newest, more fuel-efficient aircraft models. SMBC will handle transaction sourcing and platform maintenance, and also invest in opportunities alongside Maple Aircraft Co.