NEW YORK, Jan. 14, 2021 /PRNewswire/ — Kennedy Lewis Financial commitment Administration (“Kennedy Lewis“), a main opportunistic credit score supervisor, and Arena Aviation Capital (“Arena”), a total-company aircraft expenditure administration enterprise, nowadays introduced they have entered into a strategic partnership to start a $1.5 billion aircraft leasing platform. The system, named KLA Aviation Finance (“KLA”), will seek to obtain modern-day technologies commercial plane assets leased to airlines globally, with a primary concentration originally on youthful and new slender-entire body plane.
Kennedy Lewis has dedicated to deliver equity funding to capitalize KLA. Arena will source transactions for the platform on an special basis as nicely as supply a whole suite of lease servicing and asset management services.
Patrick den Elzen, Co-Founder and CEO of Arena mentioned: “Since our inception in 2013 we have developed into a top independent asset supervisor with considerable scale and an fantastic monitor record of attaining and leasing aviation belongings. We are extremely very pleased of our present-day portfolio of aircraft representing approximately $2 billion of AUM as perfectly as our growing foundation of lessee counterparties. Our partnership with Kennedy Lewis, a entire world-course investor who shares our eyesight and expenditure tactic in aviation finance, represents a important milestone in our improvement and we believe KLA is perfectly positioned to deal with the considerable liquidity difficulties across the aviation marketplace as a result of COVID-19.”
Dik Blewitt, Kennedy Lewis’ Associate and Head of Tactical Alternatives, stated: “We are quite fired up to associate with Arena to deliver significantly desired cash to the airline and lessor local community. COVID-19 has pressured the airline marketplace to grapple with unprecedented illiquidity and essentially reshaped the landscape for money suppliers. Crucial new and recent technological innovation plane leased to large top quality airways depict a quite attractive extended-time period expense prospect. We imagine Arena’s complex expertise, asset administration and leasing monitor file, and considerable network will enable us construct a most effective-in-course aviation leasing portfolio and create interesting chance-altered returns for our investors.”
Milbank LLP served as authorized advisor to Kennedy Lewis. Vedder Cost and Arthur Cox served as legal advisors and Deutsche Financial institution served as sole economic advisor to Arena.
About Kennedy Lewis
Kennedy Lewis (www.klimllc.com) is an opportunistic credit supervisor established in 2017 by David K. Chene and Darren L. Richman. It pursues function-driven predicaments in which a catalyst might unlock benefit and focuses primarily on company and structured credit rating alternatives in North The united states and Europe.
About Arena Aviation Funds
Arena Aviation Capital (www.arena-aviationcapital.com) is a complete-support plane expense administration organization focusing on the total existence cycle of acquiring and leasing utilised professional aviation belongings, servicing investment and airline consumers around the globe and offering providers such as the origination, funding, danger administration, and administration (finance/accounting and legal) of business aviation assets. Arena also presents pre-packaged tailor-manufactured options for airline prospects for their mid and finish-of-life property. Arena these days manages 52 plane leased to 23 airline prospects in Europe, North The us, Africa and Asia.
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