Private funds buys GE Capital aircraft portfolio

Cessna Citation Encore-001


Global Jet Capital has signed an agreement to purchase approximately $2.5 billion in net assets from GE Capital‘s corporate aircraft portfolio in the Americas. In addition to GE’s aircraft loan and lease portfolio, the GE Capital Corporate Aircraft team will join the Global Jet Capital organization.

Global Jet Capital, which was launched last year, is capitalized by investment funds managed by Franklin Square Capital Partners, The Carlyle Group and AE Industrial Partners. The company’s current management team and executive committee is comprised of professionals from business jet manufacturers, maintenance and service providers and financial institutions.

Also read: Aircraft financing: the experts speak

“We are investing heavily in growing the business both organically and through strategic acquisitions such as this one with GE,” Global Jet Capital  Executive Director Shawn Vick says. “This is a prime example of our industry expertise and investment capital coming together to evaluate and identify an opportunity to expand the business in a disciplined, carefully measured way.”

The transaction is expected to close in stages over the next several months and is subject to regulatory and other approvals.