Blackstone‘s GSO Capital Partners, Franklin Square Capital Partners, Carlyle and AE Industrial Partners have teamed up to launch Global Jet Capital, which provides leasing and lending solutions for business jets. According to the new company, Global Jet Capital has “the financial capacity to fund more than $2 billion in aircraft financing for individual, corporate and government use globally.”
October 20, 2014 – Orlando, FL – Global Jet Capital, a new company providing leasing and lending solutions for large-cabin, long-range business jets, has officially begun operations. Three global investment firms – GSO Capital Partners, a Blackstone company in partnership with Franklin Square Capital Partners*; The Carlyle Group; and AE Industrial Partners – have partnered to launch the company, which has the financial capacity to fund more than $2 billion in aircraft financing for individual, corporate and government use globally.
“Our management team, executive committee and sponsors have been evaluating this marketplace for the last 36 months,” said Shawn Vick, Chairman of Global Jet Capital’s executive committee. “The conditions are right for asset-based structured financing services. In recent years, traditional lending sources have not been as active in business jet financing as they used to be, leaving an opportunity for Global Jet Capital.”
Global Jet Capital offers operating and interim leases, finance leases and mortgage loans, progress payments and mezzanine financing for both new and previously owned business jets. The company’s equity base, flexible business model and industry expertise allow it to move quickly to provide clients with customized financing solutions.
Vick will be joined on the executive committee by two other aviation industry veterans, Bill Boisture and David Rowe, who have extensive experience in the business jet leasing and financing sectors. The executive committee will lead a team of seasoned managers with broad-based experience who will manage the company in sales, marketing, operations and administration. (See separate backgrounder release with biographies.)
“Our team’s research, as well as that of independent sources, indicates there is increasing demand for leasing and lending solutions in this sector of the market,” said David Rowe, Chairman. “As a result of our structure, capitalization and flexibility, we have financing solutions that may not be available from traditional lending sources.”
“We have been evaluating the global corporate aviation industry for over a year and could not be more pleased with the world-class management team and investor group that we have assembled for this opportunity,” said Dan Smith, Senior Managing Director at GSO Capital Partners.
“The Global Jet team has extensive experience in the business aviation industry,” said Carlyle Managing Director Adam Palmer. “We are eager to address this market opportunity by combining their operational expertise with the decades of aerospace investing experience and global footprint of the sponsors.”
GSO Capital Partners and Franklin Square Capital Partners
GSO Capital Partners, with approximately $69.5 billion in assets under management, is the credit platform of The Blackstone Group, a leading global institutional alternative asset manager and provider of financial advisory services, with assets under management of approximately $279 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 over $12 billion** in assets. Franklin Square’s funds are currently sub-advised by GSO or its affiliates.
* Investment to be made by funds advised or sub-advised by GSO Capital Partners and Franklin Square Capital Partners or their respective affiliates, as applicable.
** As of June 30, 2014
The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $203 billion of assets under management across 126 funds and 139 fund of funds vehicles as of June 30, 2014. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. 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 1,600 people in 40 offices across six continents. www.carlyle.com
AE Industrial Partners
AE Industrial Partners was founded in 1998 by Brian H. Rowe and David H. Rowe to channel their extensive network of business relationships in the aerospace industry into a private equity portfolio of aerospace investments. Over the years, AE Industrial Partners developed a proprietary network of operating executives focused on investing in the aerospace and power generation industries with capital provided by the founders, its partners and industry executives.