Investment manager PIMCO and former executives at GECAS, PK AirFinance and DVB have created aviation leasing and lending platforms.
The partnership has set up global aviation asset management firm High Ridge Aviation, led by CEO Greg Conlon, the former head of GECAS. He is joined by a team of former GECAS and PK AirFinance executives.
PIMCO said High Ridge Aviation has been created to focus on arranging and structuring financing and liquidity solutions to commercial airline operators.
High Ridge Aviation will focus on financing for modern, fuel-efficient aircraft as well as attractive opportunities in cargo, mid-life and engine asset markets.
PIMCO said the partnership has also created LR AirFinance — a division of High Ridge Aviation — to originate and manage secured aviation loans to support the needs of airlines, lessors, and manufacturers.
“I am exceptionally honoured to be leading this select team and delighted to partner with a premier institutional investor such as PIMCO in this strategic relationship,” said Conlon.
High Ridge Aviation’s founding principals have a proven track record of success, and “we are eager to again deliver unparalleled, innovative and client-focused results”, he added.
Dan Ivascyn, PIMCO’s group CIO, said: “Aircraft remain an attractive asset class in a critical infrastructure sector supported by solid long-term growth drivers.
“We have a longstanding investment strategy in aviation finance and our partnership with High Ridge Aviation will help provide essential liquidity and financing solutions.”
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