Willis Lease Finance Corporation (WLFC), has entered a strategic aircraft engine leasing partnership with Blackstone Credit & Insurance (BXCI). The collaboration plans to deploy more than US$1 billion over the next two years, targeting both current- and next-generation aircraft engines, as well as a select number of aircraft.
The partnership combines Willis Lease’s specialist expertise in aircraft engine leasing with Blackstone’s scaled private credit platform, creating a focused investment vehicle dedicated to the engine asset class. By bringing together deep technical knowledge and long-term institutional capital, the alliance is designed to capture opportunities arising from sustained demand for efficient, reliable propulsion assets across the global airline industry.
The new platform will build on Willis Lease’s long-established role as a pioneer in aircraft engine leasing and its expanding asset management capabilities. The company has already identified an initial seed portfolio and a near-term pipeline of high-quality engine assets expected to transfer into the partnership. This approach is intended to provide immediate scale, while also ensuring diversification across engine types, aircraft programmes and airline customers worldwide.
Austin C. Willis, Chief Executive Officer of Willis Lease Finance Corporation, described the partnership as a significant step in the evolution of the company’s asset management business. He noted that Blackstone’s scale and long-term capital commitment are expected to accelerate growth and reinforce Willis Lease’s ability to generate attractive, risk-adjusted returns through disciplined asset selection and active portfolio management.
Blackstone Credit & Insurance brings substantial financial strength and investment capability to the venture. Its Infrastructure and Asset-Based Credit group manages more than US$100 billion and is supported by over 80 investment professionals as of September 30, 2025. The platform focuses on investment-grade and non-investment-grade credit, as well as structured investments across the real economy, including infrastructure, commercial and consumer finance, fund finance and residential real estate lending.
Together, the two partners aim to establish a scaled, resilient engine leasing platform positioned to benefit from long-term growth in global air travel and fleet modernisation.
Furthermore, WLFC announced the establishment of Willis Aviation Capital (WAC), a new division that will focus on the management of third-party assets and capital through discretionary funds. WLFC will manage engine and aviation asset portfolios primarily funded by third-party capital. The platform is expected to generate recurring management fees, carried interest, and servicing revenues, while expanding WLFC’s asset management presence and supporting balance sheet deleveraging.
WLFC has partnered with leading institutional investors to help launch the platform, including its leasing partnership with Blackstone Credit & Insurance and credit strategy with Liberty Mutual Investments (up to US$600 million), both of which will be managed in collaboration with WAC. In addition, WAC will oversee WLFC’s existing joint ventures with Mitsui & Co. and China Aviation Supplies Company, as well as select third-party aviation assets in which WLFC does not hold an equity interest.
