Dubai Aerospace Enterprise (DAE) and Neuberger Specialty Finance have agreed to establish Mustang Aerospace, a new aircraft leasing co-investment platform targeting around US$6 billion in aircraft investments over the medium term.
The venture will enable DAE and funds managed by Neuberger Specialty Finance to acquire a diversified portfolio of aircraft to meet growing demand from airlines worldwide. Capital will be deployed steadily over the long term, with the aim of building Mustang into a major aircraft leasing platform.
The partners said the venture combines DAE’s four decades of aircraft leasing and asset management expertise with Neuberger Specialty Finance’s experience in asset-based finance, which focuses on investments offering resilient cash flows, downside protection and relatively short investment durations.
Headquartered in Dubai, DAE manages a fleet of around 700 aircraft, including more than 100 aircraft on behalf of third parties, with assets valued at approximately US$25 billion. Through its Aircraft Investor Services business, the company also manages aircraft portfolios for institutional and financial investors.
Neuberger Specialty Finance, the asset-based finance arm of investment manager Neuberger Berman, manages more than US$5 billion across over 50 portfolio companies and investment vehicles. Since its launch in 2018, the business has invested more than US$16 billion through a global network of origination partners spanning commercial banks, fintechs and other lenders.
