Griffin Global Asset Management and Bain Capital Credit have agreed to form a new aircraft leasing platform. According to the terms of the joint venture, Bain Capital Credit will provide capital to acquire and lease aviation assets worldwide while Griffin will provide all lease management services for the platform.
DUBLIN, Ireland – January 20, 2020 – Griffin Global Asset Management (“Griffin”) and Bain Capital Credit today announced that they have entered into an agreement to create a joint venture to develop a world-class commercial aviation leasing and asset management platform, as well as build out a diversified aircraft portfolio.
The long-term strategic partnership aims to capitalize on the demand for commercial aircraft, underpinned by growing passenger demand and significant airline needs for alternative forms of capital. Under the partnership, Bain Capital Credit will provide capital to acquire and lease aviation assets worldwide. Griffin, formed by longtime aviation executive Ryan McKenna, will provide all lease management services for the platform. Griffin will have offices in Dublin, Ireland and Los Angeles, California.
“I’ve known the Bain Capital Credit team for nearly a decade and am pleased to have such a first-class partner in this endeavor as we leverage our shared vision of the market opportunity and long-term potential to create value for stakeholders,” said Ryan McKenna, Founder and Chief Executive Officer of Griffin. “The airline industry continues to experience attractive long-term growth, and we see many opportunities to serve airlines globally in innovative ways. We look forward to working closely with airlines, OEMs, financiers, and other lessors to deliver customized fleet solutions and deploy long-term capital in aircraft leasing.”
“Ryan has a proven track-record of innovation in the aircraft leasing industry, and we are excited to join forces for this long-term partnership,” said Matt Evans, a Managing Director at Bain Capital Credit. “As the global commercial aircraft market continues to experience strong tailwinds, we are well-positioned to be able to provide the financing solutions necessary to help airlines and leasing companies efficiently manage their capital needs.”
About Griffin Global Asset Management
Griffin is an aircraft leasing company focused on providing innovative financing solutions to airlines. Prior to launching Griffin, Ryan served as Senior Vice President and Head of Strategic Planning for Air Lease Corporation. In that role, Ryan led the formation and capital raising of Blackbird Capital I and the successive Blackbird Capital II, a private equity platform with a blind pool of capital that acquires and manages aircraft alongside Air Lease Corporation. Ryan also led the formation of the Thunderbolt platform which facilitates the sale and continued management of midlife assets from Air Lease to third-party investors.
About Bain Capital Credit
Bain Capital Credit (www.baincapitalcredit.com) is a leading global credit specialist with approximately $41 billion in assets under management. Bain Capital Credit invests up and down the capital structure and across the spectrum of credit strategies, including leveraged loans, high-yield bonds, distressed debt, private lending, structured products, nonperforming loans and equities. Our team of more than 200 professionals creates value through rigorous, independent analysis of thousands of corporate issuers around the world.