Global Jet Capital, a provider of financing solutions for large-cabin, long-range private jets, has announced that it has completed approximately 90% of its acquisition of GE’s fixed-wing Corporate Aircraft financing portfolio in the Americas.
It has acquired all of the 276 aircraft in the portfolio that are in the U.S. and Canada, and aims to complete the remaining 10%, which consists of accounts in Mexico and Brazil, by the end of January 2016.
Global Jet Capital’s announcement to purchase GE’s corporate aircraft lease and loan book in the Americas was made in October 2015.
Shawn Vick, Executive Director of Global Jet Capital, said: “Today’s announcement is a significant step in further cementing our position as a leader in business aviation finance in the Americas. We are acquiring an excellent book of financed aircraft that not only provides us with a steady flow of income, but also a strong client base, which creates a huge opportunity for us to provide new business aviation finance solutions.
“The North America market is the biggest in the world, with around half of all business jets based here. With the bulk of this acquisition complete, and over $1 billion to lend to finance new purchases, we are well positioned to capitalize on a big and growing market.”
Global Jet Capital launched last year, and it is capitalized by three global investment firms – GSO Capital Partners, a Blackstone company in partnership with Franklin Square Capital Partners*; The Carlyle Group; and AE Industrial Partners.
The company’s current management team and executive committee is composed of leaders from business jet manufacturers, maintenance and service providers and leading financial institutions who have served the private aircraft industry for a combined 200-plus years and have completed over 3,500 aircraft transactions.
Members of the GE Capital Corporate Aircraft team in the Americas will also join Global Jet Capital.
Notes to editors
Global Jet Capital
Global Jet Capital is a financial services company providing financing solutions for the private aircraft market. The business is capitalized by world-class private investors with expertise in the global aviation industry: GSO Capital Partners, a Blackstone company, in partnership with Franklin Square Capital Partners, The Carlyle Group and AE Industrial Partners. We offer a management team with expertise in financing, asset management, acquisition, marketing, lease administration and product support that understands the intricacies of the private aircraft market. Global Jet Capital serves virtually all jurisdictions and has the capital and expertise to meet the needs of the global private aircraft market, with flexibility and speed. www.globaljetcapital.com
GSO Capital Partners and Franklin Square Capital Partners
GSO Capital Partners, with approximately $81 billion in assets under management, is the credit platform of The Blackstone Group, a leading global institutional alternative asset manager, with assets under management of approximately $334 billion**. Franklin Square Capital Partners is a leading manager of alternative investment funds designed to enhance investors’ portfolios by providing access to asset classes, strategies and asset managers that typically have been available to only the largest institutional investors. Franklin Square manages approximately $17.0 billion** in assets. Franklin Square’s funds are currently sub-advised by GSO or its affiliates. www.blackstone.com/gso
*Investment to be made by funds sub-advised or advised by GSO Capital Partners and Franklin Square Capital Partners or their respective affiliates, as applicable. ** As of September 30, 2015
The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $188 billion of assets under management across 126 funds and 160 fund of funds vehicles as of September 30, 2015. Carlyle’s purpose is to invest wisely and create value on behalf of its investors. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries including aerospace, defense and government services; consumer and retail; energy; financial services; healthcare; industrial; real estate; technology and business services; telecommunications; and media and transportation. The Carlyle Group employs more than 1,700 people in 35 offices across six continents. www.carlyle.com
AE Industrial Partners
AE Industrial Partners is a private equity investment company founded in 1998, by David Rowe and his late father, aviation pioneer Brian Rowe, to make direct investments in aerospace, power generation and specialty industrial companies. Today AE Industrial is led by 11 partners with each having an average of over 30 years of relevant operating and direct investment experience. AE Industrial is focused on investing in precision component manufacturing, distribution, MRO (maintenance, repair and overhaul) and industrial service-based businesses that are strategically important to their market places. AE Industrial has invested in over 30 companies including: Aviall, Dynamic Precision Group, Grand Prairie Accessory Services, Landmark Aviation, Kellstrom Materials and Belcan Corporation. www.aeroequity.com
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