Systems Lease to Offer Limited Partnership Units

Systems Lease Fund Ltd., a start-up partnership in Woodland Hills that plans to acquire and lease telecommunications systems, hopes to raise up to $12 million with an initial public offering of 1,920 limited partnership units.

In registering the securities with the Securities and Exchange Commission, Systems Lease said the units would be priced at $6,250 each and offered through Brokers Investment Corp., a securities firm that is an affiliate of Systems Lease.

The offering requires investors to buy at least two units. The company does not expect a public market to develop for trading its units, the filing added.

About 90% of the proceeds would be used to buy equipment that would then be leased to a company called Telequip Financial Services Ltd., a Nevada limited partnership, the filing said.