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Castlelake L.P. (“Castlelake”), a global alternative investment manager with 20 years of experience investing in asset-based private markets, announced the final closing of Castlelake Aviation V Stable Yield L.P. (the “Fund”). The Fund, together with related aviation strategy investment vehicles, accounts and co-investments, raised over $2 billion in capital commitments. The commitments represented both new and existing relationships with a diverse group of global institutions including pensions, sovereign wealth funds and endowments.
“We are grateful for our investor’s support of Castlelake Aviation V and the aviation expertise that Castlelake has developed over 20 years of innovating in the sector,” said Evan Carruthers, Chief Executive Officer and Chief Investment Officer of Castlelake. “In our view, the persistent and significant shortage of flexible alternative capital in the aviation sector combined with a chronic undersupply of aircraft is creating a durable opportunity set for Castlelake to deliver attractive and creative exposure to the Fund’s investors.”
The Fund and related aviation investment vehicles seek to apply Castlelake’s experience investing in, financing and managing aviation assets to deliver attractive risk-adjusted returns by creating exposure to high quality, cash-flowing aviation assets and secured aviation debt.
Castlelake Aviation V represents Castlelake’s fifth and largest dedicated aviation fund. Since its inception in 2005, Castlelake has invested over $21 billion in aviation opportunities. Castlelake’s aviation platform offers a full spectrum of capabilities from in-house capital markets expertise to technical asset management that enables it to act as a holistic partner to aviation industry participants while delivering what it believes to be attractive risk-adjusted exposure to investors. Castlelake’s recent aviation activity includes the issuance of its 9th aircraft asset-backed securitization, a $740 million term loan for Abra, $400 million of financing for Virgin Atlantic Airways, and a $1 billion term loan facility to support Castlelake’s continued investment in and acquisition of in-demand aviation assets on behalf of its investors.
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