KKR, a global investment firm, and Altavair, a frontrunner in commercial aviation leasing and financing, have signed a definitive agreement under which KKR will increase its ownership stake in Altavair and its sister company, AV AirFinance. KKR will fund the investment from its balance sheet.
The new investment deepens the long-term strategic partnership between KKR and Altavair, which invests across the global leased aircraft market. Since the partnership was launched in 2018, KKR-managed funds have committed more than US$5 billion to aircraft leasing and lending transactions.
“We are pleased to build on our long-standing relationship with Altavair and reinforce our commitment to the aviation sector, which is an important area of opportunity for our Asset-Based Finance strategy,” said Daniel Pietrzak, Partner and Global Head of Private Credit at KKR. “We look forward to supporting Altavair further with our long-term capital as it continues to meet the evolving fleet needs of airlines and operators around the world.”
“Commercial aircraft assets have proved to be highly resilient across market cycles, supported by long-term demand for global air travel and strong contractual protections,” said Brandon Freiman, Partner and Head of North American Infrastructure at KKR. “Altavair is well positioned to execute at scale across the aviation ecosystem, and we are pleased to expand our partnership as the platform continues to grow.”
To support Altavair’s next phase of growth, Matthew Hoesley, Chief Commercial Officer, will expand his remit to become President & Chief Commercial Officer of Altavair, and Andrew Carpenter, Head of Tax & Accounting, will become Chief Financial Officer of Altavair.
