Final close for Napier Park Aircraft Lease Vehicle

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By TESTCustomwebLP TESTCustomwebLP May 5, 2015 20:06

Final close for Napier Park Aircraft Lease Vehicle

Napier Park Global Capital (Napier Park), a global alternative asset management firm, has announced that its Financial Partners business group has held a final closing of the Napier Park Aircraft Leasing Vehicle I LLC (the “Napier Park Aircraft Lease Vehicle”), a $454 million specialized, single-purpose private equity fund.

Napier Park partnered with Air Lease Corporation, one of the leading, global lessors of commercial aircraft, to establish Blackbird Capital I LLC (Blackbird Capital I), a joint venture created to invest in leased aircraft. Air Lease provides servicing to Blackbird Capital I. The $454 million in equity from the Napier Park Aircraft Lease Vehicle, raised and managed by Napier Park, is expected to be deployed, alongside Air Lease’s 9.5% equity investment and long-term debt financing raised by Blackbird Capital I, in the acquisition of approximately $2.0 billion of commercial aircraft assets by the end of 2016. The Napier Park Aircraft Lease Vehicle’s limited partners include leading U.S. life and property & casualty insurance companies, public pension plans and family offices.

“The ability to partner with a proven leader such as Air Lease Corporation through this structure provides our investors with a differentiated investment opportunity, characterized by long-lived, yield-generating assets and long-term financing, expected to generate attractive risk-adjusted returns. We are excited to help support and grow ALC’s core leasing business,” said James O’Brien, a senior managing partner at Napier Park.

“Napier Park’s ability to put this complex entity together and then raise the equity capital from an impressive group of institutional investors is a testament to their expertise and it will be an integral part of our continued growth,” said Steven F. Udvar-Hazy, chairman and chief executive officer of Air Lease Corporation.

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By TESTCustomwebLP TESTCustomwebLP May 5, 2015 20:06