KKR has signed a definitive agreement to increase its ownership stake in Altavair and its sister company, AV AirFinance, deepening a strategic partnership focused on commercial aviation leasing and financing.
The investment will be funded from KKR’s balance sheet and is designed to support Altavair’s next phase of growth as the platform invests across the global leased aircraft market. KKR said its asset-based finance strategy views aviation as a long-term opportunity, citing the resilience of commercial aircraft assets across market cycles and continued demand for global air travel.
KKR-managed funds have committed more than $5 billion to aircraft leasing and lending transactions since the partnership with Altavair launched in 2018, underscoring the scale of the relationship and KKR’s continued interest in aviation-linked credit and real asset investments.
Alongside the expanded partnership, Altavair announced leadership updates intended to strengthen execution as the business grows. Matthew Hoesley, the company’s Chief Commercial Officer, will expand his responsibilities to become President and Chief Commercial Officer, while Andrew Carpenter, previously Head of Tax & Accounting, will become Chief Financial Officer.
Altavair is an aviation asset manager focused on acquiring new and used commercial aircraft for leasing to passenger airlines and cargo operators globally. The firm said it has completed more than $14.5 billion in commercial aircraft lease transactions since its founding in 2003, working with more than 80 airline customers across 50 countries, covering over 300 Boeing and Airbus aircraft. The company maintains offices in Seattle, Dublin, London, and Singapore.
KEY QUOTES:
“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. 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.”
Daniel Pietrzak, Partner and Global Head of Private Credit, KKR
“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. 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.”
Brandon Freiman, Partner and Head of North American Infrastructure, KKR
“I am delighted to deepen our strategic partnership with KKR, and we appreciate the continued trust that this investment demonstrates. Our working relationship has developed and matured over the last 7 years, and KKR’s skillsets, expertise and market knowledge have been integral to helping grow Altavair into the successful platform that it is today.”
Steve Rimmer, Chief Executive Officer, Altavair
