Global investment firm KKR is investing an additional $1.15bn (€1.1bn) in aircraft leasing through its partnership with Altavair.
KKR, which is investing on behalf of its credit and infrastructure funds, is making the additional commitment to help expand its global portfolio of leased commercial aircraft.
KKR acquired a stake in aircraft lessor Altavair in 2018 and has since deployed and committed $1.7bn of capital into aircraft deals through the partnership.
Over the years the partnership has acquired over 90 commercial and freighter aircraft through a variety of transactions.
Since 2015, KKR has invested close to $8.3bn in the aviation sector through companies like AV AirFinance, Atlantic Aviation, KKR DVB Aviation Capital, Altavair, K2 Aviation, Wheels Up, Global Jet Capital and Jet Edge.
Dan Pietrzak, KKR partner and co-head of private credit, said: “We are thrilled to deepen our footprint in aircraft leasing through this new commitment, which underscores the conviction that we have in this space and our confidence in Altavair as a partner.
“We look forward to growing our portfolio further to support the fleet needs of airlines and operators around the world.”
Brandon Freiman, KKR Partner and head of North American infrastructure, said: “Airlines are increasingly seeking greater liquidity and fleet flexibility, which is creating significant opportunities for high-quality leasing teams with deep access to private capital. We are proud to serve this growing need in partnership with Altavair.”
Steve Rimmer, CEO of Altavair, said: “Aircraft leasing continues to be a dynamic and growing market that offers compelling and differentiated opportunities for experienced investors. The portfolio that we’ve created over the past several years further evidences the power of combining KKR’s quality capital and capabilities with Altavair’s deep technical and aircraft investing expertise and innovation.
”We greatly appreciate KKR’s ongoing trust in our platform and look forward to building further on this success in the years to come.”
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