Global Jet Capital agrees to buy aircraft portfolio from GE Capital

Global Jet Capital said it has agreed to purchase the aircraft lease and loan portfolio of GE Capital Corporate Aircraft in the Americas representing approximately USD2.5 billion of net assets.

Shawn Vick, Executive director of Global Jet Capital said, “We are investing heavily in growing the business both organically and through strategic acquisitions such as this one with GE. 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.”

In building the Corporate Aircraft portfolio, GE Capital has adhered to the most comprehensive underwriting and asset evaluation practices as well as industry-leading documentation and collateral securing processes.

Global Jet Capital, which was launched last year, is capitalized by three global investment firms — GSO Capital Partners, a Blackstone company in partnership with Franklin Square Capital Partners*; The Carlyle Group; and AE Industrial Partners.

Global Jet Capital was advised by Deutsche Bank Securities Inc., BofA Merrill Lynch and Citi together with Latham & Watkins LLP, Clifford Chance US LLP and Kirkland & Ellis LLP as legal advisors. Closing is contingent upon the completion of customary closing conditions and is expected to occur in stages over the next several months.