MINNEAPOLIS, September 29, 2021 / PRNewswire / – Castlelake, LP (“Castlelake”), a global alternative investment firm and experienced leader in aircraft investment, leasing and maintenance, today announced the formation of Castlelake Aviation Limited (“CA”), a commercial aircraft lessor that will finance a portfolio of modern, youthful and fuel efficient aircraft.
“We are delighted to create Castlelake Aviation Limited, which is an exciting and natural next step in the evolution of our advanced aviation finance business,” said Evan carruthers, Managing Partner and Co-Founder of Castlelake. “This is a powerful demonstration of our commitment to staying at the forefront of the aviation finance industry and ensuring that we are well positioned to deliver agile, tailor-made finance solutions to our partners. ”
The formation of Castlelake Aviation Limited builds on Castlelake’s history of innovation in aviation finance and follows its establishment of an aviation lending company in late 2020 and reopening of the aviation market. Aircraft ABS with Castlelake Aircraft Structured Trust 2021-1 in January 2021, the first such transaction to be completed since the start of the global COVID-19 pandemic.
Since its inception, Castlelake has invested more than $ 14 billion in aviation-related opportunities. With a team of over 60 aviation professionals who have experience with nearly all types of commercial aircraft, the company currently directly manages and services a global fleet of over 350 aircraft operated by a wide range of customers, including including the world’s major airlines in more than 50 countries around the world.
CA will directly benefit from this differentiated expertise and from Castlelake’s key aviation leaders, including Joe mcconnell and Otto Verhoeff, who will sit on CA’s board of directors and will be directly involved in the development, execution and oversight of its growth strategy.
In its formation, CA’s initial portfolio will consist primarily of next-generation narrow-body aircraft on long-term leases from leading international airlines. . Additionally, CA’s growth trajectory will be supported by Castlelake’s broad portfolio of short-term investment opportunities, including active negotiations for over 40 aircraft representing over $ 2 billion potential investments, primarily in newer technology assets.
The CA portfolio will be funded by a combination of secured and unsecured debt instruments in addition to equity provided by funds managed by Castlelake.
Castlelake Aviation Limited has received the following credit ratings from the major rating agencies:
- S&P: BB-
- Moody’s Investor Services: Ba3
- Fitch ratings: BB
- Kroll Bond Rating Agency: BB +
Milbank LLP acted as US legal counsel to Castlelake.
Important notice regarding past performance and forward-looking statements
Certain elements of this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements relating to future transactions. Words such as “believe (s)” and similar expressions are intended to identify such forward-looking statements. These statements are based on the current expectations and beliefs of management and are subject to a number of factors that could lead to actual results materially different from those described in the forward-looking statements. Castlelake cannot guarantee that their expectations will be met. There are significant factors that could cause actual results, level of activity, performance or achievements to differ from the results, level of activity, performance or achievements expressed or implied in the forward-looking statements. In light of these risks, uncertainties and assumptions, the performance or future events described in the forward-looking statements in this press release may not occur. Therefore, you should not rely on forward-looking statements as a prediction of actual results and we assume no responsibility for the accuracy or completeness of such forward-looking statements. These forward-looking statements speak only as of the date of this press release. Castlelake expressly disclaims any obligation to publicly disclose any update or revision to any forward-looking statement contained herein to reflect any change in Castlelake’s expectations in this regard or any change in the events, conditions or circumstances about which a statement is made. based. In addition, past performance is not an indication or guarantee of future results and as such there can be no guarantee that historical trends will continue.
Castlelake, LP is a global alternative investment manager focused on opportunistic investments in real assets, specialty finance and aviation. Founded in 2005, Castlelake manages approximately $ 20 billion assets on behalf of its investors. The Castlelake team includes more than 200 experienced professionals, including 89 investment professionals, located in six offices in North America, Europe and Asia. For more information, please visit www.castlelake.com.
Castlelake Media Relations
+1 612 851 3083
Prosek Partners for Castlelake
Josh clarkson / Guillaume Szczecinski
[email protected] / [email protected]
+1 212 279 3115
SOURCE Lake of the Castle